FUDS - MISC. / Framfield Oil & Gas Ltd. - Reports Holdings Of Raider
Resource's Shares
CALGARY, Jan. 28 /CNW/ - Framfield Oil & Gas Ltd. (''Framfield'') and its
associates, 765888 Alberta Ltd. (''765988''), E. Keith Conrad and Macon
Resources Ltd. (''Macon'') wish to jointly announce their recent acquisitions
of securities of RAIDER RESOURCES LTD. (TSE:RAI) (''Raider'') and dispositions
of securities of BRIGADIER ENERGY INC. (ASE:BGR) (''Brigadier'') pursuant to
Raider's takeover bid for Brigadier. Framfield, Mr. Conrad and Macon, and
Framfield and 765888, act jointly in concert.
On January 20, 1999, Framfield, 765888, Mr. Conrad and Macon disposed of
all of their common shares of Brigadier to Raider pursuant to the takeover
bid, and received 0.8 common shares of Raider for each Brigadier share. Their
warrants and options of purchase shares of Brigadier each converted to
warrants and options for 0.8 common shares of Raider, with a corresponding
adjustment to the exercise prices. Framfield disposed of 2,654,501 Brigadier
shares in exchange for 2,123,601 Raider shares, and its warrants to purchase
333,334 Brigadier shares converted to warrants to purchase 266,667 Raider
shares. 765888 disposed of 4,072,357 Brigadier shares in exchange for
3,257,886 Raider shares. Mr. Conrad disposed of 1,427,262 Brigadier shares in
exchange for 1,141,810 Raider shares, of which 1,386,257 Brigadier shares and
1,109,006 Raider shares are held by Macon; Macon's warrants to purchase
333,334 Brigadier shares converted to warrants to purchase 266,667 Raider
shares and Mr. Conrad's options to purchase 25,000 Brigadier shares converted
to options to purchase 20,000 Raider shares.
Following the initial closing of Raider's takeover bid for Brigadier,
Framfield holds nil securities of Brigadier; 2,130,601 Raider shares,
including additional acquisitions of 7,000 Raider shares, and 266,667 Raider
warrants; 765888 holds nil securities of Brigadier and 4,072,357 Raider
shares, and Mr. Conrad holds nil Brigadier securities, 1,141,810 Raider
shares, 266,667 Raider warrants and 20,000 Raider options, of which 1,109,006
Raider shares and the Raider warrants are held by Macon. Accordingly the
aggregate totals of Raider securities beneficially owned or controlled by
Framfield and its associates, 765888, Mr. Conrad and Macon, are 6,530,057
shares, warrants to purchase 533,334 shares and options to purchase 20,000
shares.
In addition to Raider's takeover bid for Brigadier, Framfield
subsequently purchased 7,000 shares of Raider on the open market through the
facilities of The Toronto Stock Exchange.
The recent acquisitions of Raider common shares by Framfield, 765888, Mr.
Conrad and Macon were made for long term investment purposes only. Whether or
not any of them will purchase any further shares of Raider will depend on the
prevailing market prices of such shares.
The parties issued a news release with respect to acquisitions of
Brigadier on April 13, 1998. Since that news release and prior to January 20,
1999, Framfield acquired 154,400 Brigadier shares through the open market, and
Mr. Conrad acquired an additional 11,747 Brigadier shares, 11,500 in Macon,
and through Macon disposed of 141,835 Brigadier shares under the terms of a
private option. J. Gary Ibbotson previously held 1,666,667 Brigadier shares
and was a member of the group acting jointly and in concert. During the
period from April 13, 1998 through January 13, 1999, he transferred his
Brigadier shares to 765888, and 765888 disposed of 84,900 Brigadier shares
under the terms of a private option. |
