This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Q Investments acquires 534,000 more XXL Energy shares 2008-08-28 18:30 ET - News Release Also News Release (C-XL) XXL Energy Corp
Mr. Michael Price reports COMPANY CLOSES ACQUISITION OF XXL ENERGY CORP. UNITS
Q Investments Ltd. has acquired, on a private placement basis, 534,000 units of XXL Energy Corp. at $1.50 per unit, further to the company's news in Stockwatch on Aug. 15, 2008. Each unit consists of one common share and one share purchase warrant entitling the holder to purchase one further common share. The 534,000 common shares acquired represent approximately 7.44 per cent of the currently issued and outstanding shares of XXL. If the 534,000 share purchase warrants are exercised in full, the company would then have acquired ownership of a total of 1,068,000 common shares of XXL, representing approximately 13.84 per cent of the common shares of XXL then outstanding, assuming no further common shares had been issued from the date hereof.
As a result of the foregoing acquisition, the company now owns a total of 1,122,270 common shares of XXL and share purchase warrants for the purchase of a further 534,000 common shares. The 1,122,270 common shares represent approximately 15.63 per cent of the currently issued and outstanding common shares of XXL. If the company were to exercise its 534,000 share purchase warrants in full, the additional 534,000 common shares issued, together with the company's existing 1,122,270 common shares, would total 1,656,270 common shares, representing approximately 21.47 per cent of the common shares of XXL then outstanding, assuming no other common shares had been issued from the date hereof.
The 534,000 XXL units were acquired by the company for investment purposes. The company may, depending on market and other conditions, increase or decrease its beneficial ownership of XXL's securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities. As originally announced in the company's news in Stockwatch on July 18, 2008, the company is currently negotiating a loan transaction with XXL pursuant to which the company will loan $7.5-million to XXL. The loan may become convertible into common shares or other securities of XXL, and the interest on the loan may become payable in common shares or other securities of XXL, subject to further negotiation and certain conditions, including the approval of the minority shareholders of XXL. The remainder is available to Stockwatch subscribers.
If you would like to give the Stockwatch system a try,
click here for a free 30 day trial subscription. |
Top
Print this Page