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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: Check who wrote (3134)	6/29/1999 11:13:00 AM
From: Salt'n'Peppa	Read Replies (2) \| Respond to of 15703

NEWS RELEASE FOR: ELK POINT RESOURCES INC. TSE SYMBOL: ELK JUNE 29, 1999 Elk Point Resources Inc. Raising Funds by Private Placement of Flow-Through Common Shares CALGARY, ALBERTA--Elk Point Resources Inc. has entered into an agreement for the private placement of up to 1.5 million flow-through common shares under certain prospectus exemptions in the provinces of Alberta, British Columbia and Ontario subject to regulatory approval. The flow-through common shares will be offered at a price of $4.00 per share to raise maximum gross proceeds of $6,000,000. The gross proceeds of the offering will be used to fund the Company's natural gas and crude oil exploration activities in western Canada. Dundee Securities Corporation, CIBC Wood Gundy Securities Inc. and FirstEnergy Capital Corp. will act as agents for this financing which is expected to close on or before July 14, 1999. FOR FURTHER INFORMATION PLEASE CONTACT: Elk Point Resources Inc. Mr. Aidan M. Walsh President and Chief Executive Officer (403) 264-1358 (403) 261-8702 (FAX)