Niko Resources Completes Equity Financing

On January 22, 2003, Calgary-based Niko Resources Ltd. announced that it entered into an agreement with a syndicate of underwriters led by FirstEnergy Capital Corp., and including Canaccord Capital Corporation, Yorkton Securities Inc. and Octagon Capital Corporation to sell, on a bought deal basis, 1.5 million common shares at $26.25 per share. The common shares were qualified for distribution to the public in B.C., Alberta and Ontario pursuant to a (final) short-form prospectus date February 3, 2003. The offering closed on February 12, 2003. At closing, at total of 1.5 million common shares were issued at $26.25 per share for gross proceeds of $39.375 million.

Gowling Lafleur Henderson LLP in Calgary acted for Niko, with a team comprised of John Iredale, Q.C., Kurtis Kulman, J. Jason McCormick and Stacey Holliday (securities) and L. Alan Rautenberg. McCarthy T├ętrault LLP acted for the underwriters, with a team comprised of Richard McHardy, Nicole Merrifield and Tim Sweeney.