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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (9648)3/20/1998 9:12:00 AM
From: Herb Duncan  Read Replies (2) of 15196
 
FINANCING / Corker Resources Inc. Announces Plans for a Rights
Offering and May 20, 1998 as the Date for its Annual
General Meeting

ASE SYMBOL: CRK

MARCH 19, 1998



CALGARY, ALBERTA--Corker Resources Inc. is currently seeking
regulatory approval for a rights offering. It is anticipated that
the offering will consist of rights to subscribe for up to
3,005,000 Common Shares of the Corporation.

Each shareholder will receive one right for each Common Share held
on the record date. Two rights and the sum of $0.50 (Cdn) will
purchase one share of the Company's Common Stock. Holders who
have exercised all of their rights will be allowed to subscribe
for additional Common Shares not taken up under the initial
subscription.

If the offering is fully subscribed, the amount raised will be
$1,502,500. These funds will be utilized to pay Corker's share of
construction costs for a gathering system and compressor station
to service its 40 new gas wells in the Hanna area of southern
Alberta, to expand its 1998 exploration and acquisition budget and
to reduce bank debt.

It is expected that the rights issue will be concluded near the
date of the Company's Annual General Meeting which has been set
for May 20,1998. A rights offering circular describing the
offering in detail will be forwarded to all shareholders as soon
as regulatory approval for the offering has been granted.
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