Printer Friendly

PRAIRIE PACIFIC ENERGY ANNOUNCES SHARE ACQUISITION

 PRAIRIE PACIFIC ENERGY ANNOUNCES SHARE ACQUISITION
 VANCOUVER, British Columbia, Aug. 21 /PRNewswire/ -- Prairie


Pacific Energy Corp. ("Prairie Pacific") (NASDAQ: PRPEF, Alberta: PRP), of Vancouver, reported that it has acquired privately 1,000,000 common shares of Inspan Investments Ltd. ("Inspan") (AMEX: INY).
 After giving effect to this acquisition, Prairie Pacific beneficially owns, directly or indirectly, 3,492,000 common shares (63.4 percent) of Inspan, and a $150,000 convertible debenture of Inspan entitling it to acquire an aggregate of 750,000 common shares of Inspan. Prairie Pacific has acquired the shares of Inspan for investment purposes and currently has no intention of acquiring any additional shares of Inspan.
 Concurrent with the above transaction, Inspan reduced its debt obligations by $150,000 through the private disposition of an aggregate of 631,098 common shares of Prairie Pacific to Malcolm F.W. Todd 252,439, Robert H.O. Todd 252,439 and Murray K. Scalf 126,220, (collectively the "purchasers").
 After giving effect to this acquisition, Malcolm F.W. Todd, Robert H.O. Todd and Scalf beneficially own, directly or indirectly, an aggregate of 285,439, 285,439 and 126,220 common shares of Prairie Pacific, respectively. The purchasers have acquired the shares of Prairie Pacific for investment purposes. Scalf currently has no intention of acquiring any additional shares of Prairie Pacific.
 Malcolm F.W. Todd and Robert H.O. Todd intend to acquire an additional 300,000 common shares of Prairie Pacific through a private placement issue by Prairie Pacific.
 Regulatory approvals have been sought and granted for these transactions, subject only to the completion and filing of the requisite documents.
 -0- 8/21/92
 /CONTACT: Malcolm F.W. Todd, vice president of Prairie Pacific


Energy, 604-684-2356/
 (PRPEF INY) CO: Prairie Pacific Energy Corp. ST: British Columbia IN: OIL SU:


BP-EH -- LA019 -- 2247 08/21/92 16:02 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 21, 1992
Words:309
Previous Article:FAMILY VALUES IN THE BEDROOM THE Q-VEL REPORT ON NIGHTTIME LEG CRAMPS
Next Article:ATLANTIC COUNTY ISSUES OCEAN WATER QUALITY INDEX UPDATE
Topics:


Related Articles
PRAIRIE OIL ROYALTIES COMPANY LTD. ANNOUNCES RESULTS
PRAIRIE OIL ROYALTIES COMPANY LTD. REACHES AGREEMENT
PRAIRIE PACIFIC ENERGY CORP. ACQUIRES COMMON SHARES OF INSPAN INVESTMENTS LTD.
PRAIRIE PACIFIC ENERGY CORP. ANNOUNCES AGREEMENT WITH EURO SCOTIA FUNDING LTD. TO RAISE $3,000,000
PRAIRIE PACIFIC ENERGY CORP. MAKES ANNOUNCEMENT
PRAIRIE PACIFIC ANNOUNCES AGREEMENT
PRAIRIE PACIFIC ENERGY CORP. ANNOUNCEMENT
PRAIRIE PACIFIC ENERGY CORPORATION TAKES 10 PERCENT INTEREST IN GULF CANADA'S OIL-AND-GAS REEF TEST
Union Pacific Resources Group Inc. Completes Acquisition of Norcen Energy Resources Ltd.
Cambridge Energy acquires West Texas properties. (oil and gas properties).

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters