FINANCING / CrownJoule Exploration Private Placement
CROWNJOULE EXPLORATION LTD.
TSE SYMBOL: CJE CJE.WT
DECEMBER 23, 1997
CrownJoule Announces Private Placement
CALGARY, ALBERTA--CrownJoule Exploration Ltd. announces that it
has completed a Private Placement of 854,500 Flow-Through Common
Shares at $2.10 per share for proceeds of $1,794,450.00. Pursuant
to the offering, CrownJoule will renounce certain Income Tax
benefits relating to exploration and development expenditures to
the subscriber. Funds from the issue will be utilized on
CrownJoule's exploration and development drilling and seismic
programs this winter, primarily in the Manola, Foley Lake, Swan
Hills, Jane Lake, Sarah and Doris Areas in West Central Alberta.
Following completion of this Private Placement, CrownJoule will
have 12,807,840 shares outstanding.
CrownJoule is an oil and gas exploration company whose Common
Shares and Purchase Warrants are traded on The Toronto Stock
Exchange under the trading symbols "CJE" and "CJE.WT"
respectively. |
