Big Picture completes prospectus offering
Big Picture Technologies Inc
BPI
Shares issued 16,294,250
1999-12-30 close $2.09
Friday Dec 31 1999
Mr. Michael Anthony reports
On Dec. 30, 1999, the company closed a $4-million prospectus offering of four
million units, at a price of $1 per unit. Wolverton Securities Ltd. acted as agent for
the offering. Each unit comprises one common share and one-half of a share
purchase warrant share at an exercise price of $1.80 per common share for a
period of 12 months from the date of the closing of the prospectus. The
prospectus also qualifies the previously issued 2,553,750 common shares and
1,276,875 warrants issued upon the exercise of previously issued special
warrants, 437,500 common shares issuable upon the conversion of debentures
and 255,375 previously issued agents' warrants. The prospectus was filed and
distributed in the provinces of Alberta and British Columbia.
"Big Picture is now well positioned for a strong and explosive year 2000," said
Michael Anthony, president and chief executive officer. "This offering was key to
advancing the company's aggressive internal and external growth strategies, and in
sustaining the momentum Big Picture has achieved this year. The offering was
subscribed fully by institutions -- both national and regional in scope -- and
included some of the most respected funds in the business. The company is
fortunate to have attracted investors of this calibre, who bring longer term
commitment and market support to the table."
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com |
