Just ran across this. Closed today at $0.21. Should open Wednesday at $2.31 on the consolidated price.
Curtis
JAN. 25/99
Big Bear Exploration Ltd. Completes Blue Range Acquisition
CALGARY, ALBERTA--
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Big Bear Exploration Ltd. announced today that 31,952,630 Class "A" Voting Common shares of Blue Range Resource Corporation have been tendered to its take-over bid which expired on January 22, 1999. These shares represent approximately 91.3 percent of the issued and outstanding shares of Blue Range. Big Bear is now in a position to exercise compulsory acquisition rights to acquire 100 percent of the outstanding Blue Range shares, which it expects to complete on February 1, 1999.
Jeff Tonken, President & CEO of Big Bear stated that he was very
pleased with the overwhelming acceptance that has been obtained in
respect of the offer. Mr. Tonken indicated that Big Bear's management team continues to vigorously review and implement the restructuring of the Blue Range business.
In addition Big Bear completed the conversion of all of its outstanding Class "A" Convertible Preferred Shares into common shares of Big Bear at a conversion price of $0.70 per share on January 22, 1999.
Big Bear also announced that the eleven for one consolidation of its common shares became effective on January 23, 1999.
After taking into account all of these transactions, Big Bear will
have approximately 42.1 million common shares outstanding.
Big Bear Exploration Ltd. is a Calgary based oil and gas company
listed on The Toronto Stock Exchange under the symbol "BDX".
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Big Bear Exploration Ltd.
Jeff Tonken
President & C.E.O.
(403) 231-6361
or
Big Bear Exploration Ltd.
Rod Lebbert
Vice-President & C.O.O.
(403) 231-2494
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JAN. 26/99
Big Bear Exploration Ltd. Commences Stock Trading Wednesday, January 27, 1999
CALGARY, ALBERTA--
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Big Bear announced today that its common shares will trade on a consolidated basis on The Toronto Stock Exchange Wednesday, January 27, 1999. After giving effect to the share consolidation and the completion of its recent takeover of Blue Range Resource Corporation, Big Bear will have approximately 42.0 million shares.
Big Bear Exploration Ltd. is a Calgary based oil and gas company
listed on The Toronto Stock Exchange under the symbol "BDX".
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Big Bear Exploration Ltd.
Jeff Tonken
(403) 231-6361
or
Big Bear Exploration Ltd.
Rod Lebbert
Vice-President & C.O.O.
(403) 231-2494
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