Courage Energy enters into agreement.CALGARY, Alberta--(BUSINESS WIRE)--April 23, 1996--Courage Energy Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. ) announces that it has entered into an agreement to sell 3,700,000 Special Warrants and an Over-Allotment option to sell an additional 300,000 Special Warrants all at a price of $1.75 per share. Proceeds of the issue, before issue costs, would be a minimum of $6,475,000 and maximum of $7,000,000. The agreement to sell the Special Warrants has been entered into on a bought basis with Sprott Securities Limited as lead underwriter Lead underwriter The head of a syndicate of financial firms that are sponsoring an initial public offering of securities or a secondary offering of securities. Could also apply to bond issues. and with Research Capital Corporation. Closing of the transaction is scheduled for May 22, 1996 and is conditional on the Company obtaining a receipt for a final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. prior to September 20, 1996 and obtaining all other regulatory approvals. Proceeds of the issue will be used to accelerate and complete the 1996 drilling program, for facilities construction and reduction of bank debt. The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. has neither approved nor disapproved the information contained herein. CONTACT: Courage Energy Inc. R.G. Moffat, 403/266-4422 |
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