FINANCING - SPEC 15 LISTED / Granger Energy Completes Public
Offering
GRANGER ENERGY CORP.
ASE SYMBOL: GAS.A
JANUARY 5, 1998
Granger Completes Public Offering
CALGARY, ALBERTA--GRANGER ENERGY CORP. announced that it has
completed the sale of 1,054,797 Class A Shares at a price of $1.65
per share and 567,186 "flow-through" Class A Shares at a price of
$1.85 per share for aggregate proceeds of $2,789,709.15. Jennings
Capital Inc. and Research Capital Corporation acted as agents on
the transaction. The prospectus of the Corporation dated December
8, 1997 also cleared for distribution 1,000,000 Class A Shares and
500,000 Purchase Warrants issued on December 16, 1997 pursuant to
the exercise of previously issued Special Warrants. The Purchase
Warrants are each exercisable for one Class A Share at the price
of $2.00 until February 8, 1998.
The Class A shares of Granger are listed on the Alberta Stock
Exchange under the trading symbol "GAS.A". Approximately
5,525,000 Class A shares are outstanding and current production is
700 barrels of oil equivalent per day. |
