dig; here's the prior BIGN PR about UK dual listing....
and also it also talks about the Royal Petroleum financing arrangement at 8.5% debt based only - no CD's. The dual listing statement says "soon commence trading BIGN in Europe via an exchange listing in the United Kingdom". This will be very good for us IMO. It is taking longer than everyone wants but there are a LOT of changes happening and good things coming.
------------------------------------------------ Biogenerics Limited Prepares for Dual Listing in UK and Reiterates Impact of Recently Announced Royal Petroleum Financing Commitment
PrimeZone via COMTEX
Oct 20, 2005 10:30:10 AM
TORONTO, Oct 20, 2005 (PRIMEZONE via COMTEX) --
Biogenerics Limited (Pink Sheets:BIGN) is pleased to announce that it is currently finalizing arrangements, and expects to soon commence trading BIGN in Europe via an exchange listing in the United Kingdom. Biogeneric's Paul Smith stated, "Over the past few months, the Company has developed a strong following among European investors, and we are instituting this dual listing to enable folks in the EU to invest in BIGN more efficiently and to hold positions in their home currencies. Having become accustomed to paying the equivalent of $5 to $6 dollars a gallon for gasoline, Europeans are especially attuned to the looming energy crisis facing the U.S., and see excellent value in burgeoning companies like ours that utilize cutting edge technology to economically extend dormant, shut-in U.S. energy resources."
In addition, Biogeneric's management reiterated the impact of this Tuesday's Press Release whereby Royal Petroleum has agreed to provide traditional debt-based financing for Biogeneric's upcoming schedule of oil and gas re-completion projects. Terms announced for the financing include an 8.5% credit facility to support wellhead completion expenses for hydroslotting, secured by current cash flow of the Company's existing portfolio of producing oil & gas properties. Biogeneric's Paul Smith stated, "This is tremendous news for the company and for our shareholders. The Company already has well over $1 million in reserve cash on its balance sheet to support our current hydroslotting schedule, which we knew was going to allow us to leverage our growth without raising additional equity financing and diluting our capital structure. The credit facility we have now put in place with Royal Petroleum is going to allow the Company to step to the plate with an even more aggressive re-completion schedule on a non-dilutive basis, and provides the catalyst for us to hyper-grow the Company's resource production and income streams. Over the past 6 months, we have been aggressively locating and securing additional dormant energy properties that fit the hydroslotter criteria for re-development. Now that the company has secured an almost inexhaustible 'war chest' to bring the remainder of our existing, as well as target properties into production, our growth will now only be limited by how quickly we are able secure new properties, move hydroslotter equipment to the sites, and commence re-completion operations."
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