CORP / Elk Point Resources Inc. Obtains Receipts for Prospectus
TSE SYMBOL: ELK.A
DECEMBER 30, 1996
CALGARY, ALBERTA--Elk Point Resources Inc. ("Elk Point") announces
that the Securities Commissions in the Provinces of Alberta,
Ontario, and British Columbia have issued receipts for the
Prospectus of Elk Point dated December 23, 1996 qualifying for
distribution 1,650,000 Class A Common Shares issuable upon the
exercise of 1,650,000 outstanding Special Warrants. The Special
Warrants were previously issued at a price of $6.25 each for gross
proceeds of $10,312,500. Each Special Warrant entitles the holder
to acquire one Class A Common Share of Elk Point at no additional
cost. Any Special Warrants not exercised prior to 4:30 p.m.
(Calgary time) on January 7, 1997 will be deemed to have been
exercised without any further action on the part of the holder.
FirstEnergy Capital Corp. and Griffiths McBurney & Partners were
the underwriters in respect of the private placement of the
Special Warrants.
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