Starpoint Goldfields Inc -
Starpoint reactivation plans
Starpoint Goldfields Inc
STS
Shares issued 14,567,578
2000-02-03 close $0.25
Thursday Feb 3 2000
Mr. Donald Lyons reports
Further to the company's news release of Feb. 1, 2000, the company is taking the
following initiatives to reactivate its affairs:
The company will negotiate with creditors to settle up to $320,000 in corporate
debt by the issue of up to 2,666,666 shares at a discounted price of 12 cents per
share.
The company will cancel 243,000 options reserved for issue at 20 cents per share
through Nov. 7, 2000, and will grant options to directors, employees and
consultants to purchase 498,000 shares at 12 cents per share through Feb. 2,
2002.
Mr. Stanley J. Stanley, FCCA, FIMgt, CMC has accepted an appointment to the
board. Mr. Stanley is a professional management consultant and an accountant
with extensive international business experience.
Management has secured financing by way of a non-brokered private placement
and will sell up to 2.5 million units at a discounted price of 12 cents per unit. Each
unit comprises one common share and one share purchase warrant. Each warrant
is exercisable to purchase one additional share until Feb. 2, 2000, at 12 cents or
at 14 cents until Feb. 2, 2002. These funds will be used to meet the company's
working capital obligations and to cover the investigation costs for new projects in
the high-tech sector.
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com
old url (better for printing) |
