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Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: Arnie who wrote (9144)	2/19/1998 9:32:00 PM
From: Kerm Yerman	Respond to of 15196

FINANCING / Big Horn Resources Private Placement BIG HORN RESOURCES LTD. CALGARY, Feb. 19 /CNW/ - Big Horn Resources Ltd. (Big Horn) announces it has agreed to, subject to regulatory approval, a Private Placement to arm's length parties of 1,000,000 units, each unit consisting of 3 Common Shares at a price of $1.20 per Common Share and 2 Common Share Purchase Warrants for aggregate proceeds of $3,600,000. Each Common Share Purchase Warrant entitles the holder thereof to acquire one Common Share of Big Horn for a period of 1 year at an exercise price of $1.50. Big Horn has agreed to pay a finders fee equal to 7% of the gross proceeds raised on the offering to an arm's length party. The finder's fee will be paid through the issuance of 210,000 Common Shares of Big Horn at a deemed price of $1.20 per Common Share. Proceeds of the Private Placement will be used to finance Big Horn's on-going oil and gas exploration and development programs, potential acquisitions and for general working capital. Big Horn (BGH) is a junior oil and gas company trading on the Senior Board of the Vancouver Stock Exchange.