Berkley Petroleum Completes $37.9 Million Private Placement of Flow-Through Common Shares.CALGARY, Alberta--(BUSINESS WIRE)--Oct. 30, 1998--Berkley Petroleum Corp. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BKP BKP Bleached Kraft Pulp BKP Buchele & Kremer Produktivitätsberatung GmbH BKP Backup File BKP Breakpoint )(Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :BKP) announces that it has completed the private placement of 3,700,000 flow-through common shares at a price of $10.25 per share. This issue was expanded from 3,000,000 shares to meet demand. A portion of the offering was subscribed for by management, directors and employees, and the balance was placed through a syndicate of investment dealers including Nesbitt Burns Inc., FirstEnergy Capital Corp., CIBC Wood Gundy CIBC Wood Gundy was created in 1988 with the purchase of Wood Gundy Inc. by CIBC. CIBC Wood Gundy is a division of CIBC World Markets. Canadian Imperial Bank of Commerce Chief Executive Officer: Gerald T. McCaughey | FY 2006 Statistics: Net income: $2. Securities Inc., First Marathon Securities Limited, Peters & Co. Limited, ScotiaMcLeod Inc., Sprott Securities Limited and TD Securities Inc. Berkley will use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the private placement to fund exploration expenditures and will renounce to subscribers Canadian exploration expense equal to the subscription amount for the flow-through common shares. On October 28, 1998, Berkley filed a preliminary short form prospectus to qualify an additional offering of 4,000,000 common shares at a price of $11.25 per share to be issued on a "bought deal" basis through a syndicate of Canadian investment dealers led by Nesbitt Burns Inc. and FirstEnergy Capital Corp. and including CIBC Wood Gundy Securities Inc., First Marathon Securities Limited, Peters and Co. Limited, Bunting Warburg Inc., ScotiaMcLeod Inc., Sprott Securities Limited and TD Securities Inc. The bought deal is expected to close on or about November 12, 1998. Berkley Petroleum Corp. is a Canadian company engaged in exploration, development and production of natural gas and crude oil. Berkley's common shares are listed on the Toronto and Alberta stock exchanges under the trading symbol Trading symbol See: Ticker symbol "BKP". Berkley Petroleum's News Releases for the past 14 months can be accessed electronically through the Canadian Corporate News website at http://cdn-news.com. |
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