Canadian Leader Energy Closes Private Placement.CALGARY, Alberta--(BUSINESS WIRE)--May 7, 1996--CANADIAN LEADER ENERGY(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". ) Canadian Leader Energy Inc. ("Canadian Leader") announces that it has closed the previously announced Canadian private placement arranged by Eagle & Partners Inc. (the "Agent") of 4,550,000 Special Warrants at an issue price of $1.10 per Special Warrant for 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). (after Agent's commission) to Canadian Leader of $4,679,675 (Cdn). Each Special Warrant is exercisable for one common share of Canadian Leader for no additional compensation, or for one and one- tenth (1.1) common shares if a receipt for a prospectus qualifying the common shares to be issued on exercise of the Special Warrants has not been obtained by September 4, 1996. The Agent was also issued a one year option to purchase 455,000 shares of Canadian Leader at $1.20/share. Canadian Leader 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 Trading symbol See: Ticker symbol "LOL". CONTACT: Canadian Leader Energy Inc. Jeffrey L. Standen Chairman and Chief Executive Officer 403/264-1095 403/264-6111 (FAX) or Canadian Leader Energy Inc. Barry W. Swan Executive Vice President and Chief Financial Officer 403/264-1095 403/264-6111 (FAX) |
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