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Gold/Mining/Energy : ASHTON MINING OF CANADA (ACA)
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To: Famularo who wrote (4592)3/27/1998 3:04:00 AM
From: Intrepid1   of 7966
 
F.Y.I Frank, Yorkton just agreed to finance another junior in the Alberta Diamond Play....btw CBM.A is spending $750,000 on Sanfred's (SND.V) Alberta Claims to earn 50%. Airborne Geophysics have just been completed and are being analysed.

Cambridge Minerals Ltd -

Maximum 2m unit financing

Cambridge Minerals Ltd
CBM
Shares issued 7656333
1998-03-24 close $0.21
Wednesday Mar 25 1998
Mr Robert McMorran reports
A financing, on a best-efforts basis, has been arranged with Yorkton Securities. The financing will be by way of a prospectus and the number of units will be a minimum of 1,500,000 and a maximum of 2,000,000. The agreement contains a greenshoe option allowing for up to 300,000 additional units to be allotted by the agent at any time within 60 calendar days after closing. Each unit will consist of one share and one warrant. Each series A warrant will be exercisable for 12 months from the date of issue into one share. The exercise price
of the warrant will be equal to the offering price of the units.
Proceeds will be approximately $805,000 if maximum greenshoe over-allotment option is exercised and approximately $650,000 will be used for diamond exploration on the company's properties in Alberta.
The agent shall be entitled to a commission of 7.5% of the gross proceeds offering payable upon closing. The agent shall also be entitled to broker's warrants equal to 15% of the units sold. The exercise price of the broker's warrants will be equal to the exercise price of the series A warrants and the broker's warrants will expire
on the same day as the series A warrants.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
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