DEREK OIL & GAS CORPORATION ("DRK")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: January 24, 2005
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced November 18, 2004:
Number of Shares:
735,000 shares
Purchase Price:
$0.55 per share
Warrants:
735,000 share purchase warrants to purchase 735,000 shares
Warrant Exercise Price:
$0.75 for a one year period
$1.15 in the second year
Number of Placees:
two placees
Finder's Fee:
Allen Wilson will receive a 0.42% overriding royalty interest over certain of the Company’s oil and gas leases located on the Lak Ranch property in Wyoming.
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must alsoissue a news release if the private placement does not close promptly.
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