TUSK closes two private placements; raises $3-million
TUSK Energy Inc TKE
Shares issued 10,526,090 Aug 19 close $1.02
Thu 19 Aug 99 News Release
Mr. Norman W. Holton reports
On July 29, 1999, TUSK arranged a private placement with a single investor
at arm's-length to the company. The company sold 400,000 common shares at
75 cents for proceeds of $300,000 in this transaction.
On Aug. 19, 1999, TUSK completed a private placement of three million
flow-through special warrants at 90 cents for gross proceeds of $2,700,000.
First Marathon Securities Limited, Brant Securities Ltd. and Peters & Co.
Limited, assisted with the offering. The issue was fully subscribed.
Funds will be used for, among other things, further drilling and
development in the area of the recently announced (Stockwatch July 16) gas
discovery in northeast British Columbia and infill and exploratory drilling
at and near TUSK's major producing area at Meekwap, Alta.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com |
