Subject:
Re: Exploration Financing
Date:
Thu, 29 Jul 1999 11:21:54 -0400
From:
Darnley Bay Resources Limited <dbr@comnet.ca>
To:
Condor
Subject:
Re: Exploration Financing
Date:
Thu, 29 Jul 1999 11:21:54 -0400
From:
Darnley Bay Resources Limited <dbr@comnet.ca>
To:
Condor
A shareholder's flow-through shares rights offering has been filed with the
regulatory bodies in jurisdiction that apply to the Company, being Nova
Scotia, Ontario, Alberta, B.C. and three Territories the residents of the
shareholders.
Approvals have been received from Nova Scotia and Ontario with minor
adjustments to be addressed from Alberta.
The offering covers a maximum of 4,408,275 shares (25% of the present issue
capital). The net proceeds will be $2.3 million after expenses if fully
subscribed. The price will be set by the VSE on filing the formal document
and assume to be in order 60¢ - 70¢ per share.
Arrangements are going ahead with Canaccord Capital Corporation to be the
soliciting dealer for the rights offering.
The rights issue is to be followed by a $5 million public offering and/or
private placement(s) for the start of the drilling program later in the
year, Canaccord has requested to be an agent for a public offering.
-----Original Message-----
From: Condor
To: dbr@darnleybay.com <dbr@darnleybay.com>
Date: Wednesday, July 28, 1999 7:34 PM
Subject: Exploration Financing
>Is there any progress on exploration financing?
>
>
A shareholder's flow-through shares rights offering has been filed with the
regulatory bodies in jurisdiction that apply to the Company, being Nova
Scotia, Ontario, Alberta, B.C. and three Territories the residents of the
shareholders.
Approvals have been received from Nova Scotia and Ontario with minor
adjustments to be addressed from Alberta.
The offering covers a maximum of 4,408,275 shares (25% of the present issue
capital). The net proceeds will be $2.3 million after expenses if fully
subscribed. The price will be set by the VSE on filing the formal document
and assume to be in order 60¢ - 70¢ per share.
Arrangements are going ahead with Canaccord Capital Corporation to be the
soliciting dealer for the rights offering.
The rights issue is to be followed by a $5 million public offering and/or
private placement(s) for the start of the drilling program later in the
year, Canaccord has requested to be an agent for a public offering.
-----Original Message-----
From: Condor
To: dbr@darnleybay.com <dbr@darnleybay.com>
Date: Wednesday, July 28, 1999 7:34 PM
Subject: Exploration Financing
>Is there any progress on exploration financing?
>
>
|
