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GHP EXPLORATION CORPORATION ANNOUNCES COMMENCEMENT OF STOCK TRADING 1997-04-21 HOUSTON, TEXAS ------------------------------------------------------------------------ GHP Exploration Corporation today announced the completion of its amalgamation with Laverty Industrial Development Ltd. ("Laverty") to form a new company named GHP Exploration Corporation ("GHP"). Trading of GHP's common stock has commenced on the Canadian Dealing Network under the Symbol GHPX.U. Pursuant to the amalgamation agreement, each fifteen (15) shares of Laverty and each one share of GHP Exploration Corporation were exchanged for one share of the amalgamated company. The Company has 17.4 million common shares, 2.4 million share purchase warrants and 1.14 million options to purchase common shares outstanding. The Company currently has working capital of U.S. $11.9 million. GHP engages in the exploration for and development and production of crude oil and natural gas in the United States and Internationally. The Company currently has operations and interests in acreage in the Gulf of Mexico, onshore Texas and in Utah. Its management consists of George H. Plewes - Chairman and Chief Executive Officer, Barry D. Lasker - President and Chief Operating Officer, Gaylon E. Freeman - Vice President of Exploration and G. Wade Stubblefield - Vice President of Finance and Corporate Secretary. The Company intends to transfer its corporate domicile to the Yukon Territory of Canada, from British Columbia, at which time its board of directors will consist of George H. Plewes, Barry D. Lasker, Stephen S. Kurtz and John J. Fleming. Its corporate offices are located in Houston, Texas. (NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.) Contacts: George H. Plewes/John M. Plewes - (604) 669-2525 G. Wade Stubblefield - (713) 626-9373 | ||||||||||||||
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