Chancellor board recommends HCO offer.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)--March 1, 1996-- Energy Resources Inc. ("Chancellor") (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :CHC CHC Chicago Cubs CHC Community Health Center CHC Chestnut Hill College (Philadelphia, Pennsylvania) CHC Congressional Hispanic Caucus CHC Community Health Council (UK National Health Service) ) announced today that its Chancellor Board of Directors has issued a Directors' circular to the shareholders of Chancellor unanimously recommending acceptance of the Offer of HCO HCO Harvard College Observatory HCO Hubbard Communications Office (Scientology) HCO Hearing Carry-Over HCO Health Care Organization HCO Helicopter Control Officer HCO Human Capital Office Energy Ltd. ("HCO") to purchase all of the outstanding common shares of Chancellor on the basis of 0.32 of an HCO common share for each common share of Chancellor, upon the terms and subject to the conditions set forth in the Offer to Purchase and Offering Circular Offering Circular An abbreviated prospectus for a new security listing. Delivered to individuals and brokerage houses, these documents are issued to arouse interest in the new issue. Notes: An offering circular allows investors to access information regarding a new issue. of HCO dated February 20, 1996. The Offer expires on Wednesday, March 13, 1996. All of the directors and senior officers of Chancellor intend to tender to the Offer and the directors and certain other shareholders of Chancellor have entered into agreements with HCO pursuant to which they have agreed, subject to certain withdrawal rights, to accept the Offer. The directors and other tendering shareholders hold approximately 26 percent of the issued and outstanding shares of Chancellor. CONTACT: Chancellor Energy Resources Inc. Daniel A. Mercier, 403/233-8426 or Chancellor Energy Resources Inc. Doug N. Baker, 403/233-8426 |
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