SERVICE SECTOR / Dakota Resources Bank Financing Secured;
Acquisition to close.
ASE SYMBOL: DAK
FEBRUARY 6, 1998
CALGARY, ALBERTA--DAKOTA RESOURCES LTD. is pleased to announce
that it has secured a commitment from The Bank of Montreal for a
capital loan of $300,000 for the acquisition of FASTWAY
EXPLORATION LTD. Dakota is very pleased with this achievement; an
established banking relationship is instrumental in realizing the
long-term business plan.
Secondarily, we are pleased to announce that we have partially
filled the 1,000,000 private placement, with current commitments
totaling $235,000 to date. Additionally, the company has received
commitments for the exercise of outstanding warrants to yield
proceeds of $185,850. The company contemplates closing the
Fastway acquisition on or before February 13, 1998.
Dakota is a junior company that is returning to its roots in the
oil and gas sector, specifically in service. Fastway represents
the first acquisition in this regard. The company has added a
website and email address which are
www.telusplanet.com/public/dakotar and
Dakota_Resources@telusplanet.net. |
