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Gold/Mining/Energy : Energas Resources, Inc.
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To: Alan J. Levie who wrote (705)11/8/2000 7:57:05 PM
From: Bob Walsh  Read Replies (1) of 721
 
NR Energas Resources to acquire First Natural Gas Inc

Energas Resources Inc EEG
Shares issued 22,123,478 Nov 6 close $0.60
Tue 7 Nov 2000 Acquisition
The Canadian Venture Exchange has accepted for filing documentation
pertaining to a stock purchase agreement dated Aug. 26, 2000 and an
amendment to such stock purchase agreement dated Sept. 23, 2000, pursuant
to which the company will acquire 100 per cent of the outstanding shares of
First Natural Gas Inc. (FNG) in exchange for convertible promissory notes
(notes) with principal amounts totalling $600,000 (U.S.) issued to the
shareholders of FNG (sellers). The notes will be payable within 12 months
plus interest at a rate of 10 per cent per year. The notes provide that any
time after 45 days from the issuance of the notes up to their due date, the
sellers will have the option to convert the notes into shares of the
company at a conversion price of $2.00 (U.S.) per share.
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