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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks -- Ignore unavailable to you. Want to Upgrade?

To: stan_hughes who wrote (1666)	10/22/2001 3:49:29 PM
From: bill	Read Replies (2) \| Respond to of 11633

Here's another one. They're obviously loading up with cash while they can. Go the well when there's lots of water. Amazing that they can get this kind of financing when money has dried up in so many other areas. Shiningbank Energy arranges two million unit financing Shiningbank Energy Income Fund SHN Shares issued 19,703,712 Oct 19 close $13.95 Mon 22 Oct 2001 News Release Mr. Arne Nielsen reports Shiningbank Energy Income Fund has entered into an agreement to sell two million trust units at $13.40 each, to raise gross proceeds of $26.8-million, on a bought-deal basis. The underwriting syndicate, led by CIBC World Markets Inc., includes BMO Nesbitt Burns Inc., Merrill Lynch Canada Inc., Scotia Capital Inc., TD Securities Inc. and National Bank Financial Inc. Shiningbank has granted the underwriters an option, exercisable in whole or in part prior to closing, to purchase up to an additional 800,000 trust units at the same offering price. In addition, Shiningbank has granted the underwriters an option, also exercisable in whole or in part prior to closing, to purchase up to an additional 200,000 trust units at the same offering price to cover any overallotments. Should the underwriters' option and the overallotment option be fully exercised, the total gross proceeds of the issue would be $40.2-million. The issue will be offered in all provinces of Canada. Closing of the offering is expected to occur on Nov. 9, 2001, and is subject to regulatory approvals. Net proceeds from the financing will be used to continue with Shiningbank's business strategy of acquiring long-life natural gas reserves and exploiting development opportunities. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the U.S. Securities Act), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act. (c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com