Nework Corp -
Nework completes special warrant financing
Nework Corp NWK
Shares issued 12,200,000 2000-04-18 close $1
Tuesday May 9 2000
Mr. John Wiseman reports
Further to news in Stockwatch March 30, 2000, Nework has closed the private placement of 595,000 special warrants for gross proceeds of $595,000. Each special warrant shall entitle the holder thereof to acquire, upon exercise or deemed exercise of such special warrant, one unit of the corporation, consisting of one common share in the capital of the corporation and one non-transferable common share purchase warrant at no additional cost until 4:30 p.m. MT on the earlier of: (i) five business days after the day upon which a receipt for a prospectus to be filed by the corporation with respect to the distribution of the common shares and warrants issuable upon exercise of the special warrants has been issued by the securities commission in the province of Ontario; and (ii) April 20, 2001. Any special warrants not exercised prior to the expiry time shall be deemed to have been exercised immediately prior to the expiry time without any further action on the part of the holder. Each warrant shall entitle the holder to purchase one additional common share at any time prior to 4:30 p.m. MT on April 20, 2001, at a price of $1.25 per share. The net proceeds of this private placement will be used for working capital. |
