latest news releases from the newsroom
Aquila Agrees to Purchase Aries Power Plant From Calpine
KANSAS CITY, Mo., Sept. 22, 2006 (PRIMEZONE) -- Aquila, Inc. (NYSE:ILA) has agreed to purchase a 580-megawatt, natural gas-fired power plant, known as the "Aries" plant, in Pleasant Hill, Missouri, from Calpine Corporation for $158.5 million.
Acura Pharmaceuticals Inc.
Acura Pharmaceuticals, Inc. Secures Bridge Funding
PALATINE, Ill., Sept. 22, 2006 (PRIMEZONE) -- Acura Pharmaceuticals, Inc. (OTCBB:ACUR) today announced it has secured gross proceeds of $489,000 under a term loan agreement (the "Loan") with Essex Woodlands Health Ventures V, L.P., Care Capital Investments II, L.P., Care Capital Offshore Investments II, L.P., Galen Partners III, L.P., Galen Partners International III, L.P. and Galen Employee Fund III, L.P (collectively the "Bridge Lenders"). Coincident with this Loan, the Bridge Lenders have agreed to change the maturity date on all previous bridge loans to November 1, 2006 from October 1, 2006. The Loan bears an annual interest rate of 10%, is secured by a lien on all assets of the Company and its subsidiary, matures on November 1, 2006 and is senior to all other Company debt. The Loan permits the funding of additional cash amounts subject to agreement by the Company and the Bridge Lenders. No assurance can be given, however, that any additional funding will be advanced to the Company under the terms of the Loan. In addition, the Bridge Lenders have agreed to accept in satisfaction of the interest payment due September 30, 2006 under the bridge loans in the aggregate of approximately $133,000, a number of shares of Common Stock of the Company based on the average of the closing bid and asked prices of the Common Stock for the five trading days ending September 29, 2006.
Microsemi Updates Financial Guidance for Fourth Quarter Fiscal 2006
IRVINE, Calif., Sept. 22, 2006 (PRIMEZONE) -- Microsemi Corporation (Nasdaq:MSCC) stated in an update to its fourth quarter guidance that the Company expects fourth quarter revenues for fiscal 2006 to be flat to up 2 percent compared to revenues of the third quarter of fiscal 2006 and non-GAAP earnings to be $0.25 to $0.27 per share, excluding one-time charges.
Emerson Oil and Gas Inc.
Emerson Oil and Gas, Inc. Corporate Update
VANCOUVER, British Columbia, Sept. 22, 2006 (PRIMEZONE) -- Emerson Oil and Gas, Inc. (Pink Sheets:EOGI), a Nevada Corporation, announces that after a successful exploration and discovery of the 11-16 well in Alberta, the company has been informed by the operator that the decreased flow rates have gotten to a level that is now uneconomical.
Running Fox Resource Corp.
Running Fox Closes $500,000 Management Financing
VANCOUVER, British Columbia, Sept. 22, 2006 (PRIMEZONE) -- Running Fox Resource Corp. (Pink Sheets:RFXRF) (TSX-V:RUN) (Frankfurt:C8Q) has completed its $500,000 private placement financing by three members of the management team for 625,000 units at 80 cents per unit, with each unit comprising a flow-through common share and a share purchase warrant. Each warrant is exercisable into a further common share in the first year at $1.10 and $1.50 in the second year. The securities have now been issued and have a four-month trade restriction expiring January 5, 2007.