Monday May 15, 2:10 pm Eastern Time
Company Press Release
Fox Completes Private Placement Financing
CALGARY, Alberta--(BUSINESS WIRE)--May 15, 2000--Fox Energy Corporation (FEC.) announced that it has raised $150,000 through a fully subscribed private placement of 600,000 common shares at $0.25 per share with flow through features. The common shares are subject to a hold period of one year expiring on March 31, 2001. Issuance of the common shares is subject to final approval of The Canadian Venture Exchange which had conditionally accepted the private placement on March 30, 2000.
The Company will use the proceeds together with discretionary cash flow to fund its $3,500,000 capital expenditure program for 2000.
``The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.''
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Contact:
Donald R. Holding, President & C.E.O.
#1400, 444 - 5th Avenue SW, Calgary, Alberta T2P 2T8
Telephone: 403/265-3627 Facsimile: 403/265-3628
Toll Free: 888/720-2108
E-mail: fec@foxenergy.com
Website: www.foxenergy.com |
