Kevin,
Etruscan Enterprises Ltd
EET
Shares issued 25461154
1997-05-26 close $6.4
Tuesday May 27 1997
News Release
Mr Angus MacIsaac reports
The company had filed a preliminary prospectus to qualify for distribution the shares and warrants which will be issued to holders of previously issued special warrants of the company. In April 1997, the company raised gross proceeds of $26,000,000 from the issuance of 4,000,000 special warrants at $6.50. Each special warrant entitles the
holder to share and one warrant to purchase one share for two years at $7.50 up to April 23 1998 and at $8.475 per share up to April 23 1999. Approximately $16,700,000 of the proceeds will be used by the company to finance continued exploration on the portion of the Tiawa concession in Niger, West Africa outside the area of the concession optioned to Placer Dome. Approximately $1,200,000 has been allocated by the company to construct a pilot plant on the Koma Bangou concession in Niger, West Africa. The remainder of the proceeds will be used to acquire and explore other properties in Africa and for general corporate purposes.
Hope that helps,
MB |
