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

To: Herb Duncan who wrote (11320)	6/18/1998 10:04:00 PM
From: Herb Duncan	Respond to of 15196

CORP / Founders Energy Ltd. Reports Exercise of Share Purchase Warrants TSE, ASE SYMBOL: FDE JUNE 18, 1998 CALGARY, ALBERTA--(FDE--TSE/ASE) Founders Energy Ltd. reports that as of June 4, 1998 a total of 1,326,197 common shares have been issued in respect of the exercise of common share purchase warrants for gross proceeds of $967,102.25. These common share purchase warrants were issued as part of the December 1996 acquisition of Golden Coast Energy Ltd. A total of 275,455 of these common share purchase warrants were exercised prior to December 4, 1997 at a price of $0.65 with the remaining share purchase warrants were exercised between December 5, 1997 and the expiry date of June 4, 1998 at a price of $0.75 per share. As a result of the issuance of common shares pursuant to these transactions, the Company currently has a total of 33,932,770 common share issued and outstanding. Founders Energy Ltd. is a growth oriented Canadian junior oil and gas company that is engaged in exploration, acquisition and production of crude oil and natural gas reserves in Alberta, Saskatchewan and British Columbia.