Belair Energy Corp. (ASE:BEC) Message Board

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Gold/Mining/Energy : Belair Energy Corp. (ASE:BEC)

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To: Richard Saunders who started this subject	9/5/2002 9:49:31 AM
From: oilmaster	of 140

BelAir Energy to raise $4.5-million through financing BelAir Energy Corp (2) BEC Shares issued 26,638,278 Sep 4 close $1.00 Thu 5 Sept 2002 News Release Mr. Vic Luhowy reports BELAIR ENERGY CORPORATION ANNOUNCES BOUGHT DEAL SHARE OFFERING BelAir Energy Corporation has agreed to issue by way of a private placement 2.25 million flow-through common shares and 2.25 million units consisting of one common share and one-half common share purchase warrant on a bought-deal basis. The issue is priced at $1 per flow-through common share and $1 per unit, for gross proceeds of $4.5-million. Canaccord Capital Corporation is the lead underwriter of this private placement. Proceeds of the private placement will be used to finance exploration and development expenditures in 2002 and 2003. BelAir will renounce Canadian exploration expenses (CEE) equal to the subscription amount for the flow-through common shares in 2002. During the course of this issue, BelAir will suspend its normal course issuer bid commenced on Oct. 10, 2001, through the facilities of the Toronto Stock Exchange.

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