As I had mentioned in previous posts,
Carl Ash had told me that Bateman made up the majority of the private placement that was announced in Aug./99. (Insiders will make up only a tiny portion).
No announcement has ever been made to 'Finalize' this private placement, or what percentage went to Bateman.
We can guess maybe 4 or 5 million went to Bateman with Bateman paying EMR over $1 million for the shares and warrants.This is only a guess because none of this has been ratified by the company.
This was one of the questions I am asking Carl in my 3
e-mails over the past month (not yet answered).
268922101
FREDERICTON, NB, Aug. 19 /CNW/ - EMR Microwave Technology Corporation
announces that it is currently undertaking a private placement of up to a maximum of 6,000,000 units, priced at $0.26 per unit. Each unit will consist of one common share and one warrant to purchase another common share at $0.35
for up to two years from the date of closing.
Insiders will participate in this placement, which is subject to regulatory approval.
The proceeds of this financing will be utilized for the continued commercialization of EMR's proprietary mineral extraction technology.
EMR Microwave Technology Corporation is a process technology company with special expertise in the mining, petroleum, and industrial sectors. Using tested approaches to microwave technology, EMR's applications enable more
efficient extraction, refined processes, and reduced costs. EMR's marketing and development strategy is to partner with key industry players in order to facilitate rapid commercialization of its revolutionary processes.
The Alberta Stock Exchange has neither approved nor disapproved the contents of this press release.
Gary. |
