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Gold/Mining/Energy : KERM'S KORNER
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To: Kerm Yerman who wrote (13362)11/9/1998 5:38:00 PM
From: Kerm Yerman  Read Replies (1) of 15196
 
FINANCING / Raptor Capital Corporation Announces Private Placement
Debenture

CALGARY, Nov. 9 /CNW/ - Norman Mackenzie Chairman of Raptor Capital
Corporation announces that on November 5th 1998 Raptor received conditional
approval from the Alberta Stock Exchange for the issuance of common shares of
the company pursuant to the private placement of $500,000 of 10% Convertible
Subordinated Debentures. The Debentures are convertible into common stock of
Raptor at a price of $.16 per common share in the first year and thereafter at
a price of $.20 per common share for two years.

The Debentures are redeemable by the company at anytime provided that the
weighted average price at which the shares of Raptor have traded on the
Alberta Stock Exchange for twenty consecutive trading days was at least 200%
of the conversion price. The Debentures bear interest at the rate of 10% per
annum and in addition will earn a 4% gross overriding royalty on all wells
completed pursuant to the offering after deducting crown and free hold
royalties.

Proceeds of the offering will be used to complete and tie in four natural
gas wells near Red Deer Alberta and for the drilling of three oil wells at
Norris Alberta, all to be completed by the end of December 1998.
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