Corker Resources Inc. announces major transaction.CALGARY, Alberta--(BUSINESS WIRE)--May 8, 1997--Corker(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. :CRK CRK Creek CRK Crank CRK Christian Religious Knowledge CRK Cable Repair Kit CRK Consumer Remote Keyboard (GE/RCA remote control model designation) CRK Clark Field, Luzon Island, Philippines (Airport Code) ) Corker cork·er n. 1. One that corks bottles, for example. 2. Slang A remarkable or astounding person or thing. corker Noun Old-fashioned slang Resources Inc. announces shareholder approval of major transaction, private placement and reservation of shares. The corporation is pleased to announce that a special meeting of shareholders held on May 5, 1997, a resolution was passed approving the acquisition of certain oil and gas interests in the Wayne- Rosedale area of Alberta from Pensionfund Energy Resources Limited (the "Wayne-Rosedale Interests") and the acquisition of an 18.75 percent interest from HOOPP HOOPP Hospitals of Ontario Pension Plan (Canada) Resources Inc. in a land acquisition and gas development program in central Alberta Central Alberta (also named Alberta's Heartland) is a region located in the Canadian province of Alberta. Central Alberta is the most densely populated rural area in the province. Agriculture and energy make up an important part of the economy. (the "Participation Interests"). The acquisition of the Wayne-Rosedale Interests and the Participation Interests constituted the Corporation's Major Transaction pursuant to Policy 4.11 of the Alberta Securities Commission. The corporation subsequently completed its Major Transaction on May 5, 1997, subject to the filing of appropriate documents with The Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). . The resolution to approve the corporation's major transaction was voted on by the shareholders of the corporation on the basis of the "Majority of the Minority", which requires that the resolution approving the Major Transaction be passed by at least 50 percent plus one vote of the votes cast by the "minority shareholders" of the Corporation. At the shareholders' meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. held on May 5, 1997, the shareholders of the Corporation approved the completion of a private placement of 2,000,000 common shares at a purchase price of $0.20 per Common Share. The private placement will result in gross proceeds of $400,000.00, the majority of which will be used for corporate working capital. In May 5, 1997, the shareholders also approved the reservation of up to 10,000,000 common shares of the Corporation at a price of $0.75 per share for the acquisition of certain additional oil and gas interests in Western Canada which management is currently negotiating, such oil and gas interests to be finalized by the board of directors. The price of $0.75 per share is reserved for 60 days from the date of shareholders' approval; subsequent to the 60 day period, the price will be determined by The Alberta Stock Exchange. -0- Note to Editors: The Alberta Stock Exchange neither approves nor disapproves the information contained herein. CONTACT: Corker Resources Inc. Jack Wild, 403/294-9094 |
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