AUGUSTA METALS INC ("AUU-V") - Private Placements
Richard W. Warke, President of Augusta Metals Incorporated ("AMI") announces a correction to its News Release dated February 8, 2000. The News Release should have read as follows:
Augusta Metals Incorporated ("AMI") announces two private placements aggregating 1,191,500 special warrants ("Special Warrants") at $0.40 per Special Warrant for total proceeds of $476,600.00, subject to regulatory approval. Each Special Warrant entitles the holder to acquire, for no additional consideration, one common share.
The brokered private placement is for 599,500 Special Warrants. The Agent, Canaccord Capital Corporation will receive a cash commission of $20,000.00 and will be issued broker's warrants based on 12% of the placement. The broker's warrants will entitle the Agent to acquire 71,940 Special Warrants. The non-brokered private placement is for 592,000 Special Warrants.
The proceeds will be used to further the business of CyberCom Systems Inc. ("CyberCom"), the acquisition of which was announced January 28, 2000, and for working capital. CyberCom is an Edmonton based software developer focused on the training and educational industry. The acquisition is subject to shareholder and regulatory approval. TEL: (604) 687-1717 Augusta Metals Inc. FAX: (604) 687-1715 Richard W. Warke EMAIL: info@augustacorp.com |
