Silicon Investor (SI) -- The First Internet Community

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.

Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: scouser who wrote (11179)	10/6/1999 4:03:00 PM
From: elcasmirb	Respond to of 150070

StockTalk \| Hot Subjects \| New Subjects \| StockTalk Search SI: StockTalk: Gold, Mining, and Natural Resources: Sharpe Resources - SHO.M View Replies (1) \| View Next 10 Messages \| Respond \| Previous \| Next To: terry astle who wrote (363) From: terry astle Wednesday, Oct 6 1999 3:37PM ET Reply # of 371 OCTOBER 6, 1999 Sharpe Announces Private Placement Financing HOUSTON, TEXAS--SHARPE RESOURCES CORPORATION is pleased to announce that the Company has signed an agreement for a private placement financing. Schwartz Investments Corporation and Palos Capital Corporation of Montreal, Quebec have agreed to complete a US$2,300,000 debenture financing subject to a due diligence evaluation, Chapter 11 US Bankruptcy Court and regulatory approvals. This financing and the sale of specific non-operated assets are also subject to creditor agreements to accomplish the objective of bringing the Company out of Chapter 11. The term of the debenture is five years, a 12 % fixed interest rate coupon with quarterly interest and principal payments which include 2.3 million warrants exercisable for three years at $0.25 per warrant. This transaction is expected to close on or before December 15, 1999. The Company is also focussed upon increasing production at its 100 %-owned Matagorda Property from approximately 4 MMCFPD to about 6 MMCFPD before additional drilling is completed on the property. Separately, the Company is negotiating to achieve the necessary drilling capital to further develop the Matagorda Property. Sharpe Resources Corporation cautions that the statements made in this press release and other forward looking statements made on behalf of the Company may be affected by such other factors including, but not limited to, volatility of gas and oil prices, product demand, market competition, imprecision of gas and oil estimates, and other risks detailed herein and from time to time in the Securities and Exchange Commission filings of the Company. View Replies (1) \| View Next 10 Messages \| Respond \| Previous \| Next Remove SubjectMark View SubjectMarks Terms of Use Enter symbols or keywords for search Symbol lookup Subject Titles Only Full-Text This Subject Only Quotes are delayed by 20 minutes. Quotes provided by S&P Comstock. Got a comment, question or suggestion? Contact Silicon Investor.