SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 6, 1997
CHAPARRAL RESOURCES, INC.
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(Exact name of registrant as specified in its charter)
Colorado 0-7261 84-0630863
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(State or other jurisdiction (Commission File No.) (I.R.S. Employer
of incorporation) Identification No.)
3400 Bissonnet Street, Suite 135, Houston, Texas 77005
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code: (713) 669-0932
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Item 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of Businesses Acquired
Not Applicable
(b) Pro Forma Financial Information
Not Applicable
(c) Exhibits
(99) Notice of Certain Proposed Unregistered Offering (Rule 135c)
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: November 6, 1997
CHAPARRAL RESOURCES, INC.
By: /s/ Howard Karren
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Howard Karren, President
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CHAPARRAL
CHAPARRAL RESOURCES, INC.
NEWS RELEASE
FOR IMMEDIATE RELEASE
THURSDAY, NOVEMBER 6, 1997
CHAPARRAL RESOURCES ANNOUNCES FINANCING COMMITMENT
Houston, Texas, November 6, 1997, Chaparral Resources, Inc. (NASDAQ: CHAR)
announced today that it has received a commitment from investors to acquire
$22,500,000 of convertible preferred stock. The convertible preferred stock
would have voting rights and would be issued in three equal series of $7,500,000
each with conversion prices of $2.25, $3.00 and $4.25 per share, respectively.
The convertible preferred stock would be issued in four closings with the first
closing (for $5,000,000 of preferred stock) occurring on or before November 30,
1997 and the fourth closing occurring on or before June 30, 1998. If not
converted, the convertible preferred stock will be required to be redeemed five
(5) years after each closing. Chaparral Resources expects the definitive
documents for the proposed transaction to be completed within the next week. The
definitive documents are subject to approval by the Board of Directors of
Chaparral Resources.
THE SECURITIES DESCRIBED IN THIS NEWS RELEASE WILL NOT BE REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED
STATES ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM REGISTRATION
REQUIREMENTS.
3400 Bissonnet * Suite 135 * Houston, Texas 77005 *
713-669-0932 * 713-669-0994 Fax
