NEWS RELEASE:
Preliminary prospectus filedÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ
gronArctic Energy Incÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ GRO
Shares issued 36,295,882ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Dec 10 close $0.05
Thu 11 Dec 97ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ News Release
Mr Theodore Renner reports gronArctic has filed a preliminary prospectusÿ inÿ BC,ÿ Alberta,ÿ Manitoba, Saskatchewanÿ andÿ Ontario. The prospectus will qualify for distribution to the public a minimum of $2,000,000ÿ ofÿ commonÿ sharesÿ andÿ aÿ maximumÿ of $4,000,000ÿ ofÿ commonÿ shares through Yorkton Securities on a best efforts
basis. Proceeds will be used primarily to financeÿ theÿ company'sÿ 1997ÿ andÿ 1998 development and exploration program in the Czech Republic and other eastern European countries, and payÿ theÿ 1998ÿ licenceÿ feeÿ andÿ otherÿ costsÿ in Greenlandÿ toÿ secureÿ aÿ farm-inÿ partnerÿ toÿ carryÿ forwardÿ exploration activities. If the minimum subscription is obtained, closing is expected to occurÿ withinÿ 60ÿ days following the date of issuance of a receipt for the
final prospectus. groArctic is listed on the ASE under the trading symbol GRO. gronArctic has receivedÿ conditional approval from the ASE to change the trading symbol to GRI.
(c) Copyright 1997 Canjex Publishing Ltd.
I would like to see how they're going to get $2-million in this market!!
Wats
BTW, thanks for the e-mail. I've been aware of IVS for about 2 years now. The other one I haven't followed or heard of... |
