Best Pacific Concludes $5,637,500 Private Placement.CALGARY Calgary (kăl`gərē), city (1991 pop. 710,677), S Alta., Canada, at the confluence of the Bow and Elbow rivers. The largest city in Alberta and the fastest-growing major city in Canada, Calgary is a corporate, transportation, and financial , Alberta--(BUSINESS WIRE)--Oct. 10, 1997--Best Pacific Resourc (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :BPG BPG Blocks Per Game (basketball statistic) BPG Bisphosphoglycerate BPG Bi-National Planning Group (NORADHQ) BPG Belgian Polymer Group BPG Binational Planning Group .) Best Pacific Resources Ltd. (the "Company") is pleased to announce that it has successfully closed the previously announced private placement of 4,510,000 shares at $1.25 per share, for gross proceeds of $5,637,500. Subscribers for the common shares included First Reserve Corporation, R. Chaney Cha·ney , Lon 1883-1930. American actor known for his performances as monsters in horror movies, particularly The Hunchback of Notre Dame (1923) and The Phantom of the Opera (1925). His son Lon Chaney, Jr. & Partners III L.P., and ARC Financial Corporation. Agents for the private placement are ARC Financial Corporation, Jennings Capital Inc. and Peters & Co. Limited. Best Pacific is also pleased to announce that David H. Kennedy, Managing Director of First Reserve Corporation, has been appointed to the board of directors of the Company. Proceeds of the private placement will be used to continue Best Pacific's growth through its expanded exploration and development program, and acquisition opportunities which may arise. Best Pacific Resources Ltd. is listed on the Alberta Stock Exchange: Trading symbol Trading symbol See: Ticker symbol - BPG. -0- Neither the Alberta Stock Exchange nor any other regulatory body have reviewed this news release and they neither approved nor disapproved of the contents of this news release. CONTACT: Best Pacific Resources Ltd. Stephen C.M. Ko, 403/ 263-8389 403/ 233-7463 (FAX) http://www.bestpacific.com bpr@bestpacific.com |
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