Board Committees
TSX VENTURE SYMBOL: ONR - | View Quote | View Chart | View Financials |
CALGARY, ALBERTA--(CCNMatthews - Jan. 9, 2006) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Open Range Energy Corp. (TSX:ONR) is pleased to announce today that it has received $4,678,309.20 upon the exercise of 1,509,132 arrangement warrants at $3.10 per common share. The arrangement warrants were issued as part of the formation of Open Range through the plan of arrangement between Daylight Energy Trust and Tempest Energy Corp. In aggregate, 89.8 percent of the available arrangement warrants were exercised by the December 30th, 2005 expiry date. Including the new shares issued upon the exercise of the arrangement warrants, Open Range has 11,912,941 common shares outstanding.
These proceeds will be used to fund Open Range's ongoing exploration and development activities.
Reader Advisory
This disclosure contains certain forward looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond Open Range's control, including: the impact of general economic conditions in Canada and the United States, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. Open Range's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that Open Range will derive there from. All amounts are denominated in Canadian funds unless otherwise specified.
The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.
Open Range Energy Corp.
A. Scott Dawson, P.Eng.
President and Chief Executive Officer
(403) 205-3704
Website: www.openrangeenergy.com
