newswire.ca
Border Capital Corp. announces private placement
VANCOUVER, Dec. 21 /CNW/ - Border Capital Corp.
CDNX:BOP
Border Capital Corp. (CDNX:BOP) (the ``Company') announces a
non-brokered private placement of 7,333,333 units at CDN$0.30 per share for
total proceeds of CDN$2,200,000. Each unit will consist of one common share
and one common share purchase warrant, exercisable for a period of two years,
entitling the holder to purchase one additional common share for CDN$0.40.
This private placement replaces the private placement of $1,000,000 announced
on September 16, 1999, which transaction was not proceeded with. The issue
price of the shares is based on the closing price on the Canadian Venture
Exchange (CDNX) as of December 20, 1999, less the maximum permitted discount
of 25%. The proposed transaction is subject to regulatory approval by the
Canadian Venture Exchange and the Company is required to file a formal
application within 14 calendar days.
Border is an interactive gaming systems company, with unique technology,
protected by U.S. and International Patents, for playing bingo and other
pattern recognition games of chance over wide area networks, including the
Internet. Border is also a joint venture partner in a licensed gaming facility
located in Fredericton, New Brunswick..
The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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For further information: Mr. Michael Holley, Director (604) 730-6910
BORDER CAPITAL CORP. has 37 releases in this database. |
