FINANCING / Berkley Petroleum Corp. Announces Closing of Offering
TSE, ASE SYMBOL: BKP
FEBRUARY 24, 1998
CALGARY, ALBERTA--
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMIATION IN
THE UNITED STATES.
Berkley Petroleum Corp. announces that it has successfully closed
its previously announced offering of 2,000,000 common shares
issued on a "flow-through" basis at $17.00 per share pursuant to
its final prospectus dated February 5, 1998. The offering was
underwritten by a syndicate of Canadian investment dealers led by
Nesbitt Burns Inc. and First Marathon Securities Limited, and
including Bunting Warburg Inc., CIBC Wood Gundy Securities Inc.,
FirstEnergy Capital Corp., Peters & Co. Limited and TD Securities
Inc. Gross proceeds were $34,000,000.
Proceeds from the issue will be used to fund Berkley's ongoing
exploration activities.
Berkley Petroleum Corp. is a Canadian company engaged in
exploration, development and production of natural gas and crude
oil. Berkley's common shares are listed on the Toronto and
Alberta stock exchanges under the trading symbol "BKP."
This news release shall not constitute an offer to sell, or the
solicitation of an offer to buy the securities in any
jurisdiction. The common shares offered will not be and have not
been registered under the United States Securities Act of 1933 and
may not be offered or sold in the United States absent
registration, or an applicable exemption from the registration
requirement.
Berkley Petroleum's News Releases for the past 14 months can be
accessed electronically through Canadian Corporate News website at
cdn-news.com and Berkley's home page at berkleypete.com. |
