Canadian Leader Energy/Eagle Energy agree on share exchange ratio.CALGARY, Alberta--(BUSINESS WIRE)--Feb. 4, 1997--Canadian Leader (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :LOL "Laughing out loud" or "lots of luck." See digispeak. (chat) LOL - "laughing out loud", or "lots of love" or "luck". .) Eagle Energy (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). EGE.) CANADIAN LEADER ENERGY INC. ("Leader") (TSE:LOL) and EAGLE ENERGY CORP. ("Eagle") (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :EGE) are pleased to announce that they have agreed upon a share exchange ratio in regard to the proposed amalgamation of Leader and Eagle. The share exchange ratio is based on 1 share of Eagle being equivalent to 1.34 shares of Leader. Shareholders of Eagle will receive 0.67 shares of the amalgamated company for each 1 share of Eagle and shareholders of Leader will receive 0.5 shares of the amalgamated company for each 1 share of Leader. The proposed share exchange ratio is subject to a satisfactory third party fairness opinion, shareholder approval and applicable regulatory approvals. Mr. Paul W.M. Read has resigned as President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Leader. Mr. Read will remain a Director of Leader until completion of the amalgamation. Mr. Jeffrey L. Standen has assumed the position of President of Leader in addition to his position as Chairman and Chief Executive Officer. Mr. Peter Ffoulkes-Jones has resigned as President of Eagle and Mr. William Cherwayko has assumed the position of Interim President. A new President for the amalgamated company will be chosen by the Board of Directors of the amalgamated company which will consist of three nominees of Leader and three nominees of Eagle. The initial six proposed Directors of the amalgamated company are Jeffrey L. Standen, Barry W. Swan, Michael Miller, William Cherwayko, Alain Le Biss and Leroy Wolbaum. CANADIAN LEADER ENERGY INC. is a public company with shares trading on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the trading symbol "LOL". EAGLE ENERGY CORP. is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. with shares trading on the Alberta Stock Exchange under the trading symbol "EGE". -0- NOTE TO EDITORS: Neither the Toronto or Alberta Stock Exchanges has approved nor disapproved of the contents of this news release. CONTACT: Canadian Leader Energy Inc., Calgary Jeffrey L. Standen, 403/264-1095 403/264-6111 (FAX) William Cherwayko, 403/263-6002 403/263-5998 (FAX) |
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