Cypress Energy Inc. Closes Special Warrants Issue.CALGARY, ALBERTA--(BUSINESS WIRE)--April 22, 1998-- Cypress Cypress, city, United States Cypress (sī`prəs), city (1990 pop. 42,655), Orange co., S Calif. near Long Beach; inc. 1956. Forest Lawn–Cypress, a branch of the famous cemetery in Glendale, Calif. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CYZ.A.) (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :CYZ.A.) Cypress Energy Inc. ("Cypress") has closed its previously announced offering of 4,000,000 Special Warrants at $5.15 each for gross proceeds of $20,600,000. Each Special Warrant entitles the holders thereof to acquire one common share of Cypress for no additional consideration. The proceeds are to be used initially to repay debt and thereafter to expand the 1998 exploration and development program as well as fund potential acquisitions. First Marathon Securities Limited, Griffiths McBurney & Partners, Midland Walwyn Capital Inc., FirstEnergy Capital Corp. and Peters & Co. Limited acted as underwriters in connection with the offering. Cypress is a Calgary based, publicly traded Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. energy company involved in the exploration, development, acquisition and production of crude oil and natural gas in western Canada
Western Canada, commonly referred to as the West . The Company's shares are listed on the Toronto and Alberta Stock Exchanges under the symbol CYZ.A CONTACT: Cypress Energy Inc. Donald F. Archibald, 403/262-8225 403/263-7433 (FAX) |
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