FINANCING / Cypress Energy Inc. Share Distribution Approved
CYPRESS ENERGY INC.
TSE, ASE SYMBOL: CYZ.A
FEBRUARY 13, 1998
CALGARY, ALBERTA--Cypress Energy Inc. ("Cypress") is pleased to
announce that it has received receipts dated February 11, 1998 for
its final prospectus to qualify distribution of 12,471,992 Class A
shares of Cypress on exercise of the 4,705,000 special warrants
issued October 15, 1997 and the 7,766,992 special warrants issued
November 12, 1997 from the securities commissions in each of the
provinces of Alberta, British Columbia, Manitoba, Ontario and
Quebec.
Holders of special warrants may now exercise their special
warrants and receive one Class A share of Cypress for no
additional consideration.
Cypress raised $59,996,259 through the issuance of the special
warrants, which were used to partially fund Cypress' acquisition
of properties in the Thorsby area of Central Alberta.
Cypress is a Calgary based, publicly traded Canadian energy
company involved in the exploration, development, acquisition and
production of crude oil and natural gas in western Canada. The
Company's shares are listed on the Toronto and Alberta Stock
Exchanges under the symbol CYZ.A |
