nr on yukon property
Alliance Pacific Gold Corp -
$400,000.34 financing, etc, etc, etc
Alliance Pacific Gold Corp
APG
Shares issued 8164116
1997-12-04 close $0.38
Thursday Dec 4 1997
Mr Brian Lueck reports
The company has entered into an agreement with the Caratax Limited Partnership
whereby Caratax has agreed to acquire 1,081,082 flow through shares at $0.37
for a total amount of $400,000.34. Such funds are to be held in escrow by the
Montreal Trust Company and are to be released to the company as it incurs
resource expenditures on its Plata Inca silver property in the Yukon Territory.
Upon receipt from the company, from time to time, of certificates setting out actual
resource expenditures incurred on the property on or before May 31 1998, which
date may be extended by the parties, Caratax will cause Montreal Trust to pay to
the company the amount specified in each certificate. The company will in turn
issue to Caratax that number of flow through shares equal to the amount paid
divided by $0.37.
In the event the company is unable to incur a total of $400,000.34 in resource
expenditures on the property before May 31 1998, Caratax shall have the option,
up to and including December 31 1998, to subscribe for such number of shares at
$0.37 equal to that amount being the difference between $400,000.34 and the
total amount of resource expenditures incurred by the company.
In addition, upon closing of the private placement, which must occur no later than
December 15 1997, the company shall issue to Caratax, 1,081,082 warrants to
purchase one additional share at $0.50 until February 28 2000. Such warrants
shall be transferable, subject to applicable securities laws.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
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