Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: okey who wrote (2586)	5/19/1999 8:45:00 PM
From: wole	Read Replies (2) \| Respond to of 15703

News release - getting more interesting Attention Business Editors: Kookaburra Resources Ltd. - rights issue for shareholders VANCOUVER, May 19 /CNW/ - Kookaburra Resources Ltd. TSE Symbol- KOB We are pleased to advise that The Toronto Stock Exchange (TSE) has approved a rights offering by the Company. The purpose of the rights issue is to raise approximately $2 million, to be applied to the Company's budgeted share of near term commitments to the exploration and development of the East Lost Hills oil and gas project in the San Joaquin Basin in California. Rather than adopt the standard industry practice of making private placements to insiders and/or a select number of broker clients, the directors have resolved to provide all Kookaburra shareholders (subject to regulatory constraints) with an equitable opportunity to participate in this limited capital raising. Holders of Kookaburra shares at the close of business on May 27, 1999 (the Record Date) will receive one right for each share held. For every eight rights they hold plus 90 cents, shareholders will be entitled to subscribe for an additional Kookaburra share, however it should be noted that fractional common shares will not be issued. The important procedural dates are as follow: Record date will be at the close of business on May 27, 1999 Rights may be exercised commencing May 27, 1999 and will expire on June 17, 1999, 4:00pm (Toronto) A rights offering circular has been forwarded to shareholders. ON BEHALF OF THE BOARD ''Robert Rasmussen'' ------------------------------------- Robert Rasmussen, Corporate Secretary -30- For further information: Corporate Secretary, Mr. Bob Rasmussen, (604) 681-1919 KOOKABURRA RESOURCES LTD. has 11 releases in this database.