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Gold/Mining/Energy : Raptor Capital Corporation
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To: who wrote (349)10/21/1999 6:05:00 PM
From: J.C.  Read Replies (1) of 355
 
Deal did not go through...CanBaikal Bid for Raptor Expires

CALGARY, Oct. 21 /CNW/ - CanBaikal Resources Inc. announced today that fewer than 90% of the Raptor Capital Corporation common shares were tendered in its take-over bid, dated September 20, 1999, by the expiry time of the
offer, October 20, 1999. Accordingly, the minimum condition to the Corporations offer has not been met and the Corporation will not take up and pay for any of the shares tendered.
CanBaikal wishes to thank the many Raptor shareholders who did tender their shares. The Depository has been instructed to return all shares
tendered.
CanBaikal is a Canadian corporation trading on the Alberta Stock Exchange
under the symbol of ``CBQ'.
THE ALBERTA STOCK EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE
INFORMATION CONTAINED HEREIN.

For further information: Mr. Robert J. Bolton, Chairman and Chief Executive Officer, CanBaikal Resources Inc., Phone: (403) 264-9200, Fax: (403) 264-9210
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