Bankers Petroleum raises CDN$12 million from EBRD warrant proceeds

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[{"type":"text","content":"\n\n\n\n2009 SECOND QUARTER FINANCIAL RESULTS AVAILABLE ON AUGUST 14\n\n\nCALGARY, July 23 /CNW/ - Bankers Petroleum Ltd. ("Bankers") (TSX: BNK,\nAIM: BNK) is pleased to announce that the European Bank for Reconstruction and\nDevelopment ("EBRD") has exercised its entire warrant holdings of 8.0 million\nwarrants, issued on May 8, 2009 and priced at CDN$1.50/share, generating\nproceeds of CDN$12.0 million. The warrants were granted to EBRD along with a\nsimilar amount to the International Finance Corporation (that were previously\nexercised on July 10th), as part of the previously announced US$110 million\ncredit facility. Application has been made to admit the 8.0 million common\nshares issued upon the EBRD warrant exercise to London's AIM Exchange and\nadmission is expected to be effective on July 30, 2009.\n\n\nBankers would like to welcome EBRD as a new institutional shareholder of\nthe Company. EBRD is the largest institutional investor in Albania, with its\nkey focus areas being infrastructure development and rehabilitation of the\nenergy sector in Albania.\n\n\nSubsequent to this transaction, Bankers has 223,886,772 Common Shares\noutstanding, 13,455,892 options to purchase Common Shares and 9,713,376 Common\nShare purchase warrants.\n\n\n2009 Second Quarter\n-------------------\n\n\nBankers expects to release its 2009 second quarter financial and\noperating results on August 14 and will hold a conference call on August 17.\nThe conference call-in details will be announced when finalized.\n\n\nAbout Bankers Petroleum Ltd.\n\n\nBankers Petroleum Ltd. is a Canadian-based oil and gas exploration and\nproduction company focused on developing large oil and gas reserves. In\nAlbania, Bankers operates and has the full rights to develop the Patos-Marinza\nand Kucova heavy oil fields. Bankers' shares are traded on the Toronto Stock\nExchange and the AIM Market in London, England under the stock symbol BNK.\n\n\n","length":2044,"tagName":"div"}]

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