ACQUISITION - TOP 21 LISTED / Northrock Resources - Paragon
Petroleum
NORTHROCK RESOURCES LTD.
TSE SYMBOL: NRK
JANUARY 14, 1998
Northrock Resources Announces Mailing of Paragon
Take-Over Bid
CALGARY, ALBERTA--Northrock Resources Ltd. ("Northrock") is
pleased to announce that, further to its previous announcement on
January 7, 1998, it has mailed to all holders of common shares of
Paragon Petroleum Corporation ("Paragon") an offer and bid
circular dated January 12, 1998. Pursuant to the offer, Northrock
offers to purchase all of the issued and outstanding common shares
of Paragon on the basis of $4.10 Canadian cash per Paragon common
share or 0.19 of a Northrock common share for each Paragon common
share, or a combination thereof.
The offer, in the English language, has been mailed to all Paragon
registered shareholders and intermediaries and is open for
acceptance until 5:00 p.m. (Calgary time) on Thursday, February
5, 1998. Due to the weather situation in Quebec, mailing of the
offer in the French language has been delayed until Monday,
January 19, 1998 and exemptive relief is anticipated from the
Quebec Securities Commission.
Nesbitt Burns Inc. and Midland Walwyn Capital Inc. have been
appointed dealer managers for the offer in Canada. The
depositary, in Canada, is CIBC Mellon Trust Company which has
established depositories in Toronto, Montreal, Vancouver and
Calgary.
The offer has been extended to United States shareholders of
Paragon pursuant to a prospectus contained in the offer and bid
circular which satisfies the requirements of section 10 of the
U.S. Securities Act of 1933. Nesbitt Burns Securities Inc. is
acting as U.S. dealer manager and ChaseMellon Shareholder
Services, LLC is acting as U.S. forwarding agent. |
