KERM'S KORNER Message Board

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Gold/Mining/Energy : KERM'S KORNER

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To: Kerm Yerman who wrote (7761)	12/5/1997 4:59:00 PM
From: Arnie	Read Replies (4) of 15196

SERVICE SECTOR / Canadian Crude Separators closes Special Warrants Canadian Crude Separators Inc. Symbol: CCR - The Alberta Stock Exchange Canadian Crude Separators Inc. (CCS) today announced the closing of the previously announced transaction to issue Special Warrants. The Company issued 3,049,880 Special Warrants at a price of $5.25 per Special Warrant for gross proceeds of $16,011,870. Each Special Warrant will entitle the holder to receive one common share without payment of any additional consideration. Proceeds of the issue will be used to fund the previously announced acquisition of seven service rigs and to finance the Company's 1998 growth projects. The underwriting syndicate was led by Griffiths McBurney & Partners and also included Goepel Shields & Partners and Peters & Co. Limited. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The Special Warrants will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. For further information please contact: Alec McDougall Bob German President & Chief Operating Officer Vice President, Finance Ph: (403) 231 - 1125 Ph: (403) 231 - 1103 Fx: (403) 261 - 5612 Fx: (403) 261 - 5612

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