FINANCING / Stellarton Energy to issue Special Warrants
CALGARY, Feb. 11 /CNW/ - Mr. R.D. (Bob) Steele, President of Stellarton
Energy Corporation (''Stellarton''), announces that Stellarton has entered
into a firm financing agreement with Bunting Warburg Inc. to issue 2,600,000
Special Warrants at a price of $4.05 per Special Warrant on a bought deal
basis to raise gross proceeds of $10,530,000 ($12,150,000 if the Underwriter's
option is exercised for an additional 400,000 Special Warrants). Each Special
Warrant will entitle the holder to acquire, at no additional cost, one Class A
voting share of Stellarton. Closing of the Special Warrant transaction is
expected to occur on February 26, 1998. The financing is subject to receipt of
regulatory approvals.
Stellarton intends to use the proceeds from the offering to primarily
finance the expansion of the Secure Oil Tools Division.
Stellarton is traded on the Alberta Stock Exchange under the trading
symbol (SRT.A). The Alberta Stock Exchange has neither approved nor
disapproved the information contained herein. |
