KERM'S KORNER Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : KERM'S KORNER

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Kerm Yerman who wrote (13316)	11/7/1998 6:55:00 AM
From: Herb Duncan	Read Replies (1) of 15196

FINANCING / PanAtlas Raising Funds TSE SYMBOL: PA NOVEMBER 6, 1998 CALGARY, ALBERTA--PanAtlas has undertaken to raise $3.0 million in funds from the sale of non-core properties and equity. The equity funds will be utilized to expand the Company's drilling plans over the next few months and the property sales will be applied to the Company's line of credit. Property sales in the amount of $900,000 have been negotiated with the final closing scheduled for the end of November, 1998. The Company has reserved and received regulatory approval to issue 5,000,000 flow through shares at $0.40 per share to be issued under private placement guidelines. Subscription agreements and funds totalling $1.0 million have been received and executed with two arm's length investors. The remaining flow through shares may be subscribed for and issued on or before December 21, 1998. PanAtlas is a public oil and gas company based in Calgary with common shares trading on The Toronto Stock Exchange under the Symbol "PA".

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next