SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
F O R M 8 - K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Act of 1934
Date of Report (date of earliest event reported) January 13, 1997
COLUMBUS ENERGY CORP.
(Exact name of registrant as specified in its charter)
Colorado 1-9872 84-0891713
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification
No.)
1660 Lincoln Street, Denver Colorado 80264
(Address of Principal executive offices) (Zip Code)
(303) 861-5252
(Registrant's telephone number, including area code)
No Change
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On January 13, 1997, Columbus Energy Corp. filed with the Securities and
Exchange Commission a registration statement covering 400,000 shares of Series A
7% Convertible Preferred Stock ("Preferred Stock") with a $25.00 per share
redemption price which will be offered to the Company common shareholders by a
subscription rights offering. Each shareholder will receive one subscription
right for each share of common stock held on a record date which will be
determined shortly before the registration statement is to become effective.
Eight rights will be required for each share of Preferred Stock exercised plus
$25.00 in cash; however, purchasers of 100-share round lots may tender, in lieu
of cash, up to 100 shares of common stock and receive a credit of $12.50 per
share, therefor up to a maximum allowed credit of $1,250.00 toward the total
purchase price of $2,500.00 for each round lot. Those persons exercising their
primary subscription fully will also be allowed to oversubscribe, subject to
allotment.
The Company will not determine the conversion ratio at which each share of
Preferred Stock may be converted into Columbus common stock until the
registration statement is to become effective. The offering will be made only by
prospectus, after the registration statement becomes effective, during an
approximate three-week period and the subscription rights are expected to trade
on the American Stock Exchange ("Amex") during most of the period. The Company
plans to apply for listing of the Preferred Stock on the Amex and management
believes approval will occur assuming the Amex's requirements are met.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(C) Exhibits:
No. 28 - Columbus Energy Corp. press release dated January 13, 1997.
SIGNATURE
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 thereunto duly authorized.
COLUMBUS ENERGY CORP.
(Registrant)
DATE: January 14, 1997 BY:/s/H. C. Gutjahr
-------------------
H. C. Gutjahr
Corporate Secretary
EXHIBIT 28
FOR IMMEDIATE RELEASE - MONDAY, JANUARY 13, 1997
Confirmation: Michael Logan
Columbus Energy Corp.
(303) 861-5252
COLUMBUS ENERGY PLANS SHAREHOLDER RIGHTS OFFERING
OF CONVERTIBLE PREFERRED STOCK
Denver, Colorado, January 13, 1997 -- Columbus Energy Corp. ("EGY")
announced that it filed today with the Securities and Exchange Commission a
registration statement covering 400,000 shares of Series A 7% Convertible
Preferred Stock ("Preferred Stock") with a $25 per share redemption price which
will be offered to the Company's common shareholders by a subscription rights
offering, according to Harry A. Trueblood, Jr., President.
Trueblood said that each shareholder will receive one subscription right
for each share of common stock held on a record date which will be determined
shortly before the registration statement is to become effective. Eight rights
will be required for each share of Preferred Stock exercised plus $25 in cash;
however, purchasers of 100-share round lots may tender, in lieu of cash, up to
100 shares of common stock and receive a credit of $12.50 per share therefor up
to a maximum allowed credit of $1,250 toward the total purchase price of $2,500
for each round lot. Those persons exercising their primary subscription fully
will also be allowed to oversubscribe, subject to allotment.
The Company will not determine the conversion ratio at which each share of
Preferred Stock may be converted into Columbus common stock until the
registration statement is to become effective. The offering will be made only by
a prospectus, after the registration statement becomes effective, during an
approximate three-week period and the subscription rights are expected to trade
on the American Stock Exchange ("Amex") during most of that period.
Trueblood added that Columbus plans to apply for listing of the Preferred
Stock on the Amex and management believes approval will occur assuming the
Amex's distribution requirements are met.
More . . . . . . . .
<PAGE>
Columbus Energy Corp.
January 13, 1997
Page two
Columbus is a U.S. independent energy company involved in the exploration,
development and production of crude oil and natural gas and is listed on the
American and Pacific Stock Exchanges under the trading symbol EGY.
A registration statement relating to these securities has been filed with the
Securities and Exchange Commission but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior to the time
the registration statement becomes effective. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any State in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such State. A prospectus, when it becomes
effective, may be obtained from the Company's Secretary, H.C. Gutjahr, 1660
Lincoln Street, Suite 2400, Denver, CO 80264.
