Best Pacific Resources Ltd. Concludes $4,100,000 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. 30, 1996--Best Pacific (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 ) Robertson Rob·ert·son , Oscar Palmer Born 1938. American basketball player. As a guard for the Cincinnati Royals, he became in 1962 the only player in National Basketball Association history to average in double figures in scoring, rebounding, and assists. Stephens Best Pacific Resources Ltd. (the "Corporation"), yesterday announced that it has concluded the previously announced private placement of 5,000,000 common shares of the Corporation, at a purchase price of $0.82 per common share, for an aggregate amount of $4,100,000. Majendie Charlton Securities Ltd. acted as agent pursuant to the private placement. Pursuant to the private placement, two limited partnerships in which Robertson Stephens Investment Management L.P.("RSIM RSIM Regional Shore Installation Manager RSIM Remote Site Monitoring Equipment ") is the general partner and therefore exercises control, purchased for investment purposes, 1,500,000 common shares in the capital stock of the Corporation. As a result, RSIM exercises, control or direction over 1,500,000 or 10.2 percent of the issued and outstanding common shares of the Corporation, on an undiluted basis. In addition, a mutual fund in which RSIM provides Investment advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal purchased, for Investment purposes, 1,400,000 of 9.5 percent of the issued and outstanding common shares of the Corporation on an undiluted basis. None of RSIM, the two limited partnerships over which it exercises control or the mutual fund to which it provides investment advisory services, have any present intent to increase their beneficial ownership, control or direction over securities of the Corporation. -0- Note to Editors: Neither The Alberta Stock Exchange nor any other regulatory body have reviewed this news release and they neither approve 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) |
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