FINANCING / WESTERN LOGIC RESOURCES CLOSES PRIVATE PLACEMENT
VSE SYMBOL: WLT
JULY 30, 1997
Western Logic Resources Inc. Closes Private Placement of
1,779,576 Units
CALGARY, ALBERTA--Western Logic Resources Inc. ("Western Logic")
(VSE-"WLT") has closed its Private Placement of 1,779,576 Units,
at $0.16 per unit, subject to VSE approval, for the sum of
$284,732. Each Unit consists of one common share and one warrant.
The warrants will be redeemable within one year of common shares
of Western Logic, at the rate of one warrant and $0.25 for each
common share subscribed for. The funds will be used to purchase
petroleum and natural gas leases and to participate in exploration
programs to develop currently held lands in Bottineau County,
North Dakota, and Souris River, Manitoba. |
