Expatriate closes private placements
Dr. Harlan Meade reports
Expatriate Resources has closed the following private placements, all announced July 18, 2000:
(a) a $50,000 private placement, consisting of 100,000 units at 50 cents per unit, each unit consisting of one common share and one-half of a share purchase warrant, with each full warrant to entitle the holder to purchase one additional flow-through or ordinary common share at 70 cents until July 31, 2001;
(b) a $70,000 private placement, consisting of 140,000 units at 50 cents per unit, each unit consisting of one flow-through common share and one-half of a share purchase warrant, with each fall warrant to entitle the
holder to purchase one additional common share at 70 cents until July 31, 2001; and
(c) a $12,000 private placement, consisting of 24,000 special warrants at 50 cents per special warrant, each special warrant to be convertible for no additional consideration into one flow-through common share and one-half of a share purchase warrant, with each full warrant to entitle the holder to purchase one additional common share at 70 cents until July 31, 2001.
All securities issued or issuable pursuant to the private placements disclosed in (a) and (b) above are subject to a hold period until Dec. 1, 2000. The company intends to file a prospectus with the appropriate
regulatory authorities to qualify the distribution of the securities to be issued on the conversion of the special warrants disclosed in (c) above, as well as the securities to be issued on the conversion of certain other
previously issued special warrants. |
