CORPORATE NEWS RELEASE
?? TRACER PETROLEUM CORPORATION ??
?? NASD OTC BB: TCXXF ?? Dateline: Calgary, AB, Canada
?? Date: Thursday, March 2, 2000
TRACER ARRANGES PRIVATE PLACEMENT
TRACER PETROLEUM CORPORATION (?Tracer? or the ?Company?) reports that it has agreed to
complete a private placement with certain arms-length investors, and with the Company?s Chief Executive
Officer, David R. Robinson. The private placement will consist of 1,540,000 Units at US$0.50 per Unit, for
gross proceeds of US$770,000. Each Unit consists of one share plus one two-year share-purchase warrant,
exercisable at US$1.00 in the first year, and US$1.25 in the second year. The proceeds of the private placement
will be added to working capital. A finder?s fee of 7% of the gross proceeds is payable on the portion of the
private placement that is being purchased by the arms-length investors.
Furthermore, the Company has granted a total of 203,300 stock options to certain employees, officers, and
directors, exercisable at a price of US$0.78 per share. The stock options have a two-year term.
On behalf of the Board of,
TRACER PETROLEUM CORPORATION
?David Robinson"
David Robinson
President and CEO |
