PRAIRIE PACIFIC ENERGY CORP. ACQUIRES COMMON SHARES OF INSPAN INVESTMENTS LTD.
VANCOUVER, British Columbia, March 16 /PRNewswire/ -- Prairie Pacific Energy Corp. ("Prairie Pacific") (NASDAQ: PRPEF, Alberta: PRP), of Vancouver, reported that it has acquired privately 1,300,000 common shares of Inspan Investments Ltd. ("Inspan") (Alberta: INY). After giving effect to this acquisition, Prairie Pacific beneficially owns, directly or indirectly, 4,795,500 common shares (79 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. Prairie Pacific may acquire additional shares of Inspan in the market. -0- 3/16/93 /CONTACT: Malcolm F.W. Todd, VP of Prairie Pacific Energy, 604-684-2456/ (PRPEF INY)
CO: Prairie Pacific Energy Corp.; Inspan Investments Ltd. ST: British Columbia IN: OIL SU: TNM
BP-JB -- LA029 -- 6787 03/16/93 17:45 EST
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|Date:||Mar 16, 1993|
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