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Gold/Mining/Energy : WLO V significant gains in 2 days
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To: Joe Bilich who wrote (1)3/18/1997 9:16:00 AM
From: Bob Walsh  Read Replies (1) of 6
 
Welcome Opportunities Ltd - News Release

Three million shares of Telelink acquired

Welcome Opportunities Ltd
WLO
Shares issued 3796148
1997-03-17 close $4.5
Tuesday Mar 18 1997
News Release
Ms Irene Wilson reports
The company has acquired 3,000,000 shares of Telelink through the facilities of the VSE and Canaccord Capital. The majority of these shares have been acquired from insiders of Telelink.
Welcome has agreed to purchase up to 5,000,000 units of Telelink by way of a brokered private placement at $0.55. Each unit will consist of one share and one warrant. Each warrant may be exercised at any time within one year from the date of issue for the purchase of an additional share at a price equal to the average closing price of Telelink's shares over the next five-day period. A fee of 2% of the
total proceeds from the placement will be paid by Telelink to Canaccord Capital in consideration for services performed in connection with the placement.
Completion of the proposed private placement will be subject to approval by the shareholders of Telelink, as well as satisfactory completion of due diligence procedures on behalf of the private placees. Shares acquired pursuant to the private placement will be subject to a one year hold. It is anticipated that upon closing of the placement, Telelink will seek a purchaser for its remaining non-cash
assets, including its paging and terminal divisions.
Ms Irene M. Wilson, president of Welcome, will be joining the board of Telelink.
Telelink and Welcome will proceed immediately with the required regulatory filings to obtain approvals of the proposed transactions in accordance with applicable stock exchange and security legislation.
Telelink intends to use the proceeds of the unit financing and its cash reserves to identify, acquire, and work on and/or invest in mineral resource prospects.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
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