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BNK PETROLEUM INC. ANNOUNCES PRIVATE PLACEMENT TO CLOSE IN TWO TRANCHES AND STATUS OF SUBSIDIARY'S REPLACEMENT CREDIT FACILITY
BNK PETROLEUM INC. ANNOUNCES PRIVATE PLACEMENT TO CLOSE IN TWO TRANCHES AND STATUS OF SUBSIDIARY'...
About this update from Kolibri Global Energy Inc
[{"type":"text","content":"\n\n\n\n Oct. 25, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTSX ticker symbol; BKX\n\n\nCAMARILLO, CA, Oct. 25 /CNW/ - BNK Petroleum Inc. (the "Company") (TSX:\n BKX) is pleased to announce that the TSX has accepted notice of the\n previously announced $66 million private placement of shares with\n Quantum Partners LP and has conditionally approved the listing of the\n 26 million shares to be issued in the private placement. \n\n\nThe private placement will close in two tranches in order to accommodate\n the time required to complete background checks required by the TSX\n when a transaction results in a new insider.  The first tranche of\n 10,600,000 shares is expected to close before October 29th, 2010.  The\n second tranche for the balance of the 26 million shares will close,\n subject to satisfaction of any remaining conditions within three\n business days of TSX confirmation that it has cleared the relevant\n information.  The Company intends to use the net proceeds of the\n private placement for general corporate purposes, including work\n commitments on its European shale gas concessions. \n\n\nThe Company is also pleased to report that definitive documentation is\n near completion for the previously announced BNK Petroleum (US) Inc.\n ("BNK US") replacement credit facility.  BNK US is the Company's\n indirect wholly-owned subsidiary which holds its US oil and gas\n interests.  The initial commitment amount of ...