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BEAU CANADA EXPLORATION LTD. COMPLETES $10 MILLION PRIVATE PLACEMENT

BEAU CANADA EXPLORATION LTD. COMPLETES $10 MILLION PRIVATE PLACEMENT
 CALGARY, Oct. 1 /CNW/ - Beau Canada Exploration Ltd. announced today that it has completed a private placement of 12,200,000 Special Warrants at a price $0.82 per Special Warrant for gross proceeds of approximately $10 million. Goepel Shields & Partners Inc. and Nesbitt Thomson Inc. acted as underwriters in this transaction. Each Special Warrant entitles the holder to one Class A Common Share of Beau Canada. Funds are being held in escrow pending clearance of a final prospectus, which is expected in early December.
 The proceeds of the issue will be used for acquisitions, drilling and development activities and debt reduction.
 Beau Canada is a Calgary based oil and gas company. Its common shares are listed on The Toronto Stock Exchange and trade under the symbol "BAU.A".
 For further information: Tom Bugg, President & Chief Executive Officer or; Michael Lang - Treasurer and Chief Financial Officer, Beau Canada Exploration Ltd., (403) 266-2400
 (BAU.A.)
 -0- 10/01/92


CO: BEAU CANADA EXPLORATION LTD. IN: OIL ST: -- c0150 -- X044 10/01/92
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Publication:PR Newswire
Date:Oct 1, 1992
Words:180
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