American International Petroleum Obtains Conventional Financing.NEW YORK--(BUSINESS WIRE)--Jan. 19, 1999--American International Petroleum Corporation (NASDAQ-NMS: AIPN AIPN Association of International Petroleum Negotiators AIPN Australian Injury Prevention Network AIPN Advanced Industrial Property Network (Japanese Patent Office) AIPN Asian Industrial Property Network ) announced today it has obtained an aggregate of approximately $4,000,000 of conventional financing, of which approximately fifty percent has been funded. The balance of the financing is anticipated to close before February 1, 1999. Proceeds are being used for various working capital purposes, including the purchase of feedstock feed·stock n. Raw material required for an industrial process. Noun 1. feedstock - the raw material that is required for some industrial process raw material, staple - material suitable for manufacture or use or finishing for refinery operations. Additionally, the Company is pursuing various other financing strategies in order to finance certain expenditures for its exploration and development activities in Kazakhstan and expansion of its domestic refinery operations in the Gulf Coast region. American International Petroleum Corporation is a diversified petroleum company which, through various wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , is involved in oil and gas exploration and development in the Republic of Kazakhstan, and in refining, marketing and transportation of its refined products in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The matters discussed herein are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . These statements involve risks and uncertainties, such as timely availability of products and services, as set forth in the Company's filing with the Securities and Exchange Commission. These risks and uncertainties could cause actual results to differ materially from any forward-looking statements made herein. |
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