oplar Resources raises $724,290.93 through short form offering
Poplar Resources Ltd PPX
Shares issued 53,544,201 Jul 24 close $0.09
Thu 25 Jul 2002 News Release
Mr. Alvin Jackson reports
FINANCING COMPLETED
Poplar Resources has completed its short form offering for gross proceeds
of $724,290.93 through the issuance of 6,584,463 units at a price of 11
cents per unit. Each unit consists of one common share and one
non-transferable share purchase warrant, with each warrant entitling the
holder to purchase one additional common share at a price of 15 cents per
share in year one and 25 cents per share in year two. The funds will be
used to advance the Sundsvall project in Sweden, the Mistassini and
Nottaway Central project in Quebec and for general working capital.
Pacific International Securities Inc. of Vancouver, BC, acted as lead agent
on this financing, with significant involvement by Union Securities Ltd.,
Canaccord Capital Corp. and Dundee Securities Ltd. The company paid the
lead agent a cash commission of $57,943.27 and 987,669 agent's warrants.
In addition to the short form offering, the company completed a private
placement of $66,660 as announced in news in Stockwatch dated June 19,
2002. |
