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Gold/Mining/Energy : RIS Resources International Corp, RIS-V
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To: AurumRabosa who wrote (242)10/5/1999 8:08:00 AM
From: Bob Walsh   of 250
 
News release: RIS to sell one million Pennaco shares

RIS Resources International Corp RIS
Shares issued 34,663,741 Oct 1 close $1.20
Mon 4 Oct 99 News Release
Mr. John Hislop reports
RIS Resources International Corp. proposes to sell one million of its common shares of Pennaco Energy Inc., pursuant to a registration statement and prospectus filed by Pennaco in the United States. The shares will be
sold to the underwriters of the offering at a negotiated price representing the market price at the time of sale, less the applicable discounts and commissions. The offering will be marketed over the next several days and,
if successfully marketed, a price will be fixed. The closing of the transaction, and hence the ability of the company to sell the Pennaco shares, is subject to typical closing conditions, as set out in the
underwriting agreement between parties.
RIS is a holding company specializing in emerging growth companies and was an initial investor in the early stages of Pennaco's development. Pennaco currently constitutes a significant portion of the value of RIS's investment portfolio. As a result, management has decided to divest a portion of the company's holdings in Pennaco. RIS will retain 1.5 million common shares of Pennaco following the offering.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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