Mt. Tom Minerals V.MTK (was Westmount Res, WTM) Message Board

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Gold/Mining/Energy : Mt. Tom Minerals V.MTK (was Westmount Res, WTM)

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To: Leigh McBain who wrote (490)	10/5/1999 9:06:00 PM
From: ando	Read Replies (1) of 496

NEWS OUT!! Mt. Tom reverses reduction in $1-million private placement Mt. Tom Minerals Corp MTK Shares issued 5,883,922 Oct 5 close $0.74 Tue 5 Oct 99 News Release Mr. Sheldon Kales reports Based on committed insider and global management purchasing, together with the fundamental strength of the agent (Wolverton), the announced (Sept. 27) reduction in the pricing of the company's $1-million brokered private placement has been reversed. The placement will proceed at a price of 60 cents per special warrant. Each of the 1,666,666 special warrants are convertible into one common share and one non-transferable share purchase warrant exercisable for a one-year period. Each share purchase warrant, together with consideration of 75 cents in the first six months, and $1 for the remainder of the term, will entitle the purchaser to acquire an additional common share. Management believe that this upward repricing fundamentally strengthens shareholder value, by curbing the dilutive nature of a lower priced financing. The agent has also consented to a reduction in the agent's option, from 200,000 special warrants to 100,000 warrants. Management are also pleased to announce that the company has filed with the Vancouver Stock Exchange a comprehensive filing statement and related documentation. The company also confirms that the vendors of Global Netertainment Corp. have agreed to enter into an escrow agreement regarding the 2.5 million shares that they are to receive from the company on the closing of the acquisition of Global. The escrow agreement provides that the escrow shares will be released to the vendors at the rate of 1 share for every 12 cents in cumulative cash flow generated by Global (in accordance with Listings Policy 19). Management are expecting to receive final comments from the exchange shortly and are preparing to close the transaction immediately thereafter. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

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