Endless Energy Corp.: Purchase of Nova Scotia... -
[Cached Version]
Published on: 11/1/2002
Last Visited: 11/1/2002
CALGARY, ALBERTA--Jon Axford, the President of Endless Energy Corp (the "Company") is pleased to announce it intends to close today the private placement of 9.75 million shares priced at $0.50 per share for gross proceeds of $4,875,000 and net proceeds of $4,595,000.This transaction allows the Company to finalize its $3,607,787.83 payment remaining owing to the Province of Nova Scotia to purchase the shares of Nova Scotia Resources Limited.In addition the Company will provide to the Province of Nova Scotia documentation to cover all further closing requirements.
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Jon Axford on behalf of Management said "I am extremely pleased to welcome our new shareholders and we look forward to an interesting and exciting future with our new Nova Scotia offshore properties."Subject to approval from both the TSX Venture Exchange and the Province of Nova Scotia, this transaction is expected to close in early November 2002.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.This news release may contain forward-looking information.Actual future results may differ materially from those contemplated.
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Jon AxfordPhone: (403) 263-4292Fax: (403) 263-0477Email: jon@endlessenergy.ab.ca