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Gold/Mining/Energy : Epic EAS.v (formerly Epic ERB.v and Safari SIR.v) -- Ignore unavailable to you. Want to Upgrade?

To: JR. who wrote (3324)	7/23/2001 9:28:18 PM
From: JR.	Read Replies (1) \| Respond to of 3335

News Epic arranges private placement Epic Oil and Gas Ltd EAS Shares issued 18,731,706 Jul 19 close $0.09 Mon 23 Jul 2001 News Release Mr. Michael Hopley reports The Canadian Venture Exchange has accepted for filing a joint venture agreement and conditionally accepted a convertible debenture agreement with Ivory Oils and Minerals Inc. These agreements, the details of which were reported in Stockwatch on June 26, 2001, grant Ivory the right to finance and participate in up to $500,000 (U.S.) of land acquisition and exploration work, including drilling for natural gas in the Bellingham basin of northwest Washington State. Through the joint venture and financing agreements Ivory will have the opportunity to earn up to a 50-per-cent interest in the Bellingham basin project. The land acquisition program to acquire additional oil and gas leases in the Bellingham basin has already commenced. The work of assembling and interpretation of technical data will start this month and the company expects that drilling for commercial quantities of natural gas will start before the end of the year. The company has also arranged a private placement financing of four million units at the price of 10 Canadian cents per unit. Each unit will consist of one common share in the capital stock of the company and half of one non-transferable share purchase warrant. One full warrant will entitle the holder to purchase one additional share of the company for a 180-day period at a price of 15 Canadian cents. Prior to closing the company intends to file an updated annual information form, which would result in a four-month hold period under British Columbia securities law for securities issued in this financing. The proceeds from this unit financing will be used to advance and develop the company's projects in Washington State and Alberta, for the generation of other projects, as well as for general corporate purposes. In addition the company has granted, subject to regulatory approval, incentive stock options to members of the company's management for the purchase of 65,000 shares of the company at 10 Canadian cents. (c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com This is beginning to look like a serious attempt at getting some wells drilled. About time!! Cheers, JR.