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Gold/Mining/Energy : KERM'S KORNER

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To: Arnie who wrote (7895)	12/11/1997 9:29:00 PM
From: Herb Duncan	Read Replies (1) of 15196

CORP / Granger Announces Public Offering FOR: GRANGER ENERGY CORP. ASE SYMBOL: GAS.A DECEMBER 11, 1997 CALGARY, ALBERTA--GRANGER ENERGY CORP. today announced that it has received approval from the Alberta and the Ontario Securities Commissions to issue up to $3,000,000 Class A and Class A flow-through shares. Regular Class A shares are offered at a price of $1.65 per share and Flow-through Class A shares are offered at $1.85 per share. Flow-through purchasers will receive a tax deduction of 100 percent of the purchase price effective for 1997. Closing is tentatively scheduled for December 19, 1997 but in any event not later than December 31, 1997. Approval of the Prospectus also qualifies the Special Warrants previously issued by private placement on August 8th, 1997 to be exchanged for Class A shares and share purchase warrants. Jennings Capital Inc. and Research Capital Inc. are co-agents. GRANGER'S 3,930,000 Class A shares (including exchange of the Special Warrants) are listed on the Alberta Stock Exchange under the trading symbol "GAS.A".

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