SI
SI
discoversearch

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 ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Kerm Yerman who wrote (14018)12/3/1998 12:20:00 PM
From: Kerm Yerman  Read Replies (16) of 15196
 
FINANCING / Place Resources Corporation - Special Warrant Financing Closed

CALGARY, Dec. 3 /CNW/ - Place Resources Corporation has successfully
closed a previously announced bought deal financing of 2.2 million special
warrants at an issue price of $3.00 for total gross proceeds of $6.6 million.
HSBC James Capel Canada Inc. as lead, and First Marathon Securities Limited
acted as underwriters in respect of the financing. Each special warrant
entitles the holder, without additional payment and subject to adjustment, to
acquire one Place common share from treasury.

Place has also arranged to increase its line of credit with the Royal
Bank of Canada to $20 million from $15 million.

The gross proceeds from the special warrant issue and the increased line
of credit will be used primarily to finance Place's development plans at
Minehead, Alberta.

At Minehead, the previous announced gas well located at 5-20-47-17 W5M is
currently being connected to the main ANG pipeline and production is
anticipated to commence imminently. Yesterday, Place ran casing on a
potential gas well recently drilled at 5-16-47-17 W5M. This well will be
tested in the next 10 days and, if successful, will be connected and on
production by month-end. Place is also participating with a 33 1/3 % working
interest in a horizontal well currently being drilled at 1-7-48-17 W5M, which
is operated by Rio Alto Exploration. Results from this well are anticipated
by year-end.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News