Conwest to issue convertible debentures

Conwest Exploration recently entered into a “bought deal” underwriting agreement with McLeod Young Weir, Merrill Lynch Canada and Dominion Securities.

Under the agreement, the underwriters will purchase from Toronto based Conwest $60,000,000 of 7.25% convertible subordinated debentures. Scheduled to mature June 14, 2002, the debentures will be convertible into Class B subordinate voting shares at a price of $18 per share until June 15, l994 and thereafter at $19.50 per share.

A preliminary prospectus in respect of the debentures is being filed with securities commissions across Canada.