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Gold/Mining/Energy : TITANIUM CORPORATION INC.- The Next Major Mining Play
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To: Winzer who wrote (260)7/18/2000 10:44:06 AM
From: chevalier  Read Replies (1) of 343
 
NAR Resources Ltd -

NAR completes financing

NAR Resources Ltd
NRL
Shares issued 7,838,202
2000-07-17 close $2.75
Tuesday Jul 18 2000
Mr. George Elliott reports
NAR Resources has completed its previously announced private placement
financing whereby the company issued 1.3 million special units at a price of $1.56
per special unit for total gross proceeds of $2,028,000 before deduction of
commission and expenses. Yorkton Securities Inc. acted as agent for the
financing.
Each special unit is exercisable into one common share, one-half Series A warrant
and one-half Series B warrant for no additional consideration. Each whole
common share purchase A warrant will be exercisable into one common share at
a price of $2 for a period of 18 months providing that: the A warrant cannot be
exercised during the first six months; and the placee still holds the common shares
at the time of the exercise of the A warrant. Each whole common share purchase
B warrant will be exercisable into one common share at a price of $2.50 for a
period of up to 12 months from the date of the exercise of the A warrant.
The company has undertaken to qualify for distribution the common shares and
common share purchase warrants issuable upon exercise of the special units
through the filing of a prospectus. In the event the corporation does not obtain a
receipt for a (final) prospectus in a province in which a holder of special units is
resident on or before Dec. 17, 2000, each special unit exercised thereafter by
such holder will entitle the holder thereof to acquire 1.1 common shares, 0.55 of
an A warrant, and 0.55 of a B warrant in lieu of one common share and one
common share purchase warrant. If at any time after the filing of the prospectus,
the 30-day average trading price for the common shares equals or exceeds $3.50,
each A warrant is only exercisable for a period of 30 days from the date the
company delivers written notice to the placee to this effect. If at any time after the
filing of the prospectus, the 30-day average trading price of the common shares
equals of exceeds $4.50, each B warrant is only exercisable for a period of 30
days from the date the company delivers written notice to the placee to this effect.
(c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com
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