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Gold/Mining/Energy : Tracer Petroleum (TCXXF) -- Ignore unavailable to you. Want to Upgrade?

To: Zencone who wrote (898)	12/29/1998 8:30:00 PM
From: Saracen	Read Replies (1) \| Respond to of 1261

News out: Tracer Announces Private Placement VANCOUVER, British Columbia, Dec. 29 /PRNewswire/ -- Tracer Petroleum Corporation (Nasdaq: TCXXF - news; Vancouver: TPC - news) announces a non-brokered private placement of 370,000 units at US $0.50 per unit. Each unit consists of one common share and one non-transferable common share purchase warrant. Each warrant entitles the holder to acquire one additional common share for a period of 2 years at US $0.70 per share if exercised in the first year and US $0.90 if exercised in the second year. The Company will be requesting a hold period of four months from the date of issue of the Securities and the delivery by Tracer to the placees of an officer's certificate as required pursuant to blanket order #97/12 of the British Columbia Securities Commission (the ''SHAIF Certificate''). Proceeds will be utilized for working capital purposes. A finder's fee of 5% will be payable on the portion of the placement subscribed for by non-insiders. The private placement is subject to acceptance by Regulatory authorities. SOURCE: Tracer Petroleum Corporation I would be curious to know how much of this is being purchased by the insiders - could be a good indication that we have hit bottom, since hopefully the insiders know enough about what is going on with the company to know the right time to put in more money.