SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
F O R M 8 - K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Act of 1934
Date of Report (date of earliest event reported) January 13, 1997
COLUMBUS ENERGY CORP.
(Exact name of registrant as specified in its charter)
Colorado 1-9872 84-0891713
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification
No.)
1660 Lincoln Street, Denver Colorado 80264
(Address of Principal executive offices) (Zip Code)
(303) 861-5252
(Registrant's telephone number, including area code)
No Change
(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS
On January 13, 1997, Columbus Energy Corp. filed with the Securities and
Exchange Commission a registration statement covering 400,000 shares of Series A
7% Convertible Preferred Stock ("Preferred Stock") with a $25.00 per share
redemption price which will be offered to the Company common shareholders by a
subscription rights offering. Each shareholder will receive one subscription
right for each share of common stock held on a record date which will be
determined shortly before the registration statement is to become effective.
Eight rights will be required for each share of Preferred Stock exercised plus
$25.00 in cash; however, purchasers of 100-share round lots may tender, in lieu
of cash, up to 100 shares of common stock and receive a credit of $12.50 per
share, therefor up to a maximum allowed credit of $1,250.00 toward the total
purchase price of $2,500.00 for each round lot. Those persons exercising their
primary subscription fully will also be allowed to oversubscribe, subject to
allotment.
The Company will not determine the conversion ratio at which each share of
Preferred Stock may be converted into Columbus common stock until the
registration statement is to become effective. The offering will be made only by
prospectus, after the registration statement becomes effective, during an
approximate three-week period and the subscription rights are expected to trade
on the American Stock Exchange ("Amex") during most of the period. The Company
plans to apply for listing of the Preferred Stock on the Amex and management
believes approval will occur assuming the Amex's requirements are met.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(C) Exhibits:
No. 28 - Columbus Energy Corp. press release dated January 13, 1997.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
COLUMBUS ENERGY CORP.
(Registrant)
DATE: January 14, 1997 BY:/s/H. C. Gutjahr
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H. C. Gutjahr
Corporate Secretary