Admiral Bay Completes $12 Million Private Placement Financing.TORONTO -- - Conference call to review Company progress; to be held on Wednesday February 2nd at 10:00 am Eastern Standard Time Admiral Bay Resources Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ADB (Apple Desktop Bus) A low-speed serial bus for connecting keyboards, mice and other input devices on Apple IIgs and Macintosh computers. Starting with the iMac in 1998, the ADB was superseded by USB. ), has completed its private placement offering of 12,000,000 Units at $1.00 per Unit for gross proceeds of $12,000,000. Each Unit consists of one Common Share and one-half of one Common Share purchase warrant. Each whole warrant entitles the holder to acquire one Common Share, exercisable at a price of $1.35 per share until July 21, 2006. Each Common Share and the shares issued upon the exercise of the Warrants will be subject to a four month hold period. The proceeds will be used by the Company to advance its U.S. oil and gas production, for exploration purposes on its properties, as well as for general corporate purposes. Conference Call: Wednesday February 2nd, 10:00 am Eastern Standard Time You are invited to attend a conference call to discuss the progress of the Company's operations. The dial in numbers in numbered parts; as, a book published in numbers. See also: Number are: (416) 695-9753 in Toronto, or Toll Free at 1-877-667-7774. Callers should request the Admiral Bay Investor Call chaired by Mark Brennan Mark Brennan (born 4 October, 1965 in Rossendale) is an English former professional footballer. During his career he made 168 appearances for Ipswich Town F.C. before moving to Middlesbrough. External links
If you are unable to attend this call, it will be posted to the Company's website, the day following the conference call. You will be able to access the call by clicking on the Investor Area and going to "Presentations and Interviews" on the menu. Admiral Bay Resources Inc. (www.admiralbay.com) is a Canadian oil and gas exploration and development company focused upon its producing projects in the Cherokee Basin in south-east Kansas. Production has begun at the Company's U.S. conventional and coalbed methane (CBM CBM Commodore Business Machines CBM Coalbed Methane CBM Christoffel Blindenmission CBM Condition Based Maintenance CBM Confidence-Building Measures CBM Curriculum Based Measurement (education) CBM Cubic Meter ) gas projects located in the Cherokee and Uintah Basins. The Company's Moose River Basin property is being explored for coalbed methane on over 250,000+ acres in the James Bay lowlands of northern Ontario. The Company is listed on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. . Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements". The TSX Venture Exchange does not accept responsibility for the adequacy of this release. Admiral Bay Resources Inc. (TSX VENTURE:ADB) |
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