Circle Energy Announces Completion of Private Placement.
The price was $0.90 per Unit with each Unit consisting of one Common Share and one Warrant. Two Warrants entitle the holder to acquire one Common Share at a price of $1.00 per share until July 29, 1996.
Proceeds of this offering will be used to carry out Circle's previously announced Nisku/Leduc Devonian Reef drilling program in Central Alberta. The Company is mobilized to immediately carry out a ground based magnetic horizontal gradient intensity and radiometric survey on the prospects. Drilling of up to three wells is expected to commence upon completion of the survey.
The Alberta Stock Exchange has neither approved nor disapproved of the information contained in this press release.
CONTACT: Circle Energy Inc.
Bill Baker, 403/777-1926
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|Date:||Apr 30, 1996|
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