TKO Resources Inc -
Imperial Venture acquisition nears completion
TKO Resources Inc TK
Shares issued 21,543,200 1998-08-18 close $0.09
Tuesday Aug 18 1998
Mr. Bob Burton reports
During the most recent AGM shareholders approved a name change for the company which will be effected as soon as practicable.
The company will now operate from offices in three different cities. The St. John's, Newfoundland office will handle all financial and administrative functions, the location in Calgary, Alberta will direct exploration and development, and the Vancouver, British Columbia office will cover all marketing and promotion for the firm.
The company is nearing completion of a deal to acquire all of the issued shares of Imperial Venture Corp. IVC holds 100 per cent rights to two large oil and gas exploration permits in western Newfoundland. Estimates based on regional geology, reconnaissance seismic and analogies to known areas, indicate that these properties could have the combined potential of more than one billion barrels of oil equivalent.
Management has received VSE approval to the brokered private placement of 10,000,000 special warrants at 15 cents, as announced in Stockwatch June 18, 1998. The company will use its best efforts to file and clear a preliminary and final prospectus to qualify the securities issuable under the offering.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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