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Gold/Mining/Energy : MODERN RECORDS INC. (MZR.V & MDNR.OTC)
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To: bcjt who wrote (169)5/20/2000 1:38:00 PM
From: bcjt   of 188
 
Modern to raise $975,000 privately

Modern Records Inc MZR
Shares issued 19,680,000 May 19 close $0.72
Fri 19 May 2000 News Release
Mr. Johan Grandin reports
Modern Records has agreed to a private placement of 1.3 million units at a
price of 75 cents per unit to raise gross proceeds of $975,000. Each unit
will comprise one common share in the capital of the company and one
non-transferable share purchase warrant. Each warrant will entitle the
holder to purchase one additional common share of the company for a period
of two years at a price of 90 cents per share during the first year and a
price of $1.25 per share during the second year. The units will not be
registered in the United States and will be subject to applicable
restrictions on transfer under United States Securities laws. Closing is
subject to regulatory acceptance.
The private placement for 700,000 units at a price of 92 cents per unit
will not be completed.
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com

bcjt
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