FINANCING / Calvalley Petroleum Private Placement
CALVALLEY PETROLEUM INC. CONCLUDES FLOW-THROUGH PRIVATE
PLACEMENT OFFERING OF $5,005,000.00
1997-12-24
CALGARY, ALBERTA
Edmund M. Shimoon, chairman of the board of Calvalley Petroleum Inc., is
pleased to announce that Calvalley has completed the private placement of
2,275,000 Flow-Through Special Warrants, exercisable into an equivalent
number of Flow-Through Class "A" Common Voting Shares at $2.20 per share for
a total subscription of $5,005,000.00. The underwriter for this issue was
Dominick & Dominick Securities Inc. of Toronto, Ontario.
This flow-through share issue calls for the renunciation of Canadian
Exploration Expense allowances by Calvalley in favour of the recipients,
utilizable for the 1997 taxation year. This issue is subject to the usual
regulatory requirements.
Calvalley Petroleum Inc. is a Calgary-based oil and gas exploration and
development company whose shares are traded on the Montreal Exchange. |
