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Raimount's application for rights offering approved

2004-09-03 14:50 ET - News Release

An anonymous director reports

RAIMOUNT ENERGY INC. TO CONDUCT RIGHTS OFFERING

Raimount Energy Inc. has received regulatory approval to conduct a rights offering for shareholders resident in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Nova Scotia. The company will offer to shareholders of record on Sept. 15, 2004, rights to purchase shares of the company. One right will be issued for each share held. Four rights and 80 cents are required to purchase one share. The expiry date for the rights offering is Oct. 8, 2004.

The following is a summary of the primary terms of the offering:

Basis of offering: One right will be issued for each common share held. Four rights plus 80 cents will entitle the holder to subscribe for one common share

Record date: Sept. 15, 2004

Shares trade ex rights: Sept. 13, 2004

Rights expire: Oct. 8, 2004

Rights trading symbol: RMT.RT

Rights CUSIP No.: 75078P 11 1

Subscription agent and trustee: Computershare Trust Company of Canada

Authorized jurisdictions: British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Nova Scotia

The company's rights offering circular is available for viewing on SEDAR and will be mailed to shareholders of record shortly after the record date.