FINANCING / Pyramid Energy closes Financing
CALGARY, Dec. 23 /CNW/ - PYRAMID ENERGY INC., ''PEI'' announces that, as
of this date, an interim closing on its flow through common share offering was
completed. The corporation sold 3,924,450 shares at a price of $0.70 per
share, realizing gross proceeds of $2,747,115. These funds will be used to
finance PEI's 1998 exploration and development program in Western Canada.
In accordance with the November 27, 1997 Private Placement Offering
Memorandum, a final closing is scheduled for December 30, 1997 to allow for
acceptance of further subscriptions, to a maximum of $3,500,000.
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