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ROBERTSON STEPHENS & COMPANY, INC. ANNOUNCES ACQUISITION OF COMMON SHARES OF ETRUSCAN ENTERPRISES LTD.
SAN FRANCISCO, CA, June 17 /CNW/ - This press release is issued by
Robertson, Stephens & Company, Inc. (``RS&Co., Inc.'') pursuant to Section 93
of the Securities Act (British Columbia), Section 141 of the Securities Act
(Alberta), Section 110 of the Securities Act (Saskatchewan), Section 92 of the
Securities Act (Manitoba), Section 101 of the Securities Act (Ontario),
Section 147.11 of the Securities Act (Quebec), Section 94 of the Securities
Act (Nova Scotia) and Section 102 of the Securities Act (Newfoundland) with
respect to Common Shares of Etruscan Enterprises Ltd. (the ``Issuer'').
The Robertson Stephens Orphan Offshore Fund (the ``Orphan Offshore
Fund'') has acquired 51,300 Shares of the Issuer and 46,200 warrants
(``Warrants'') of the Issuer in private transactions. Each Warrant is
exercisable for one additional common share of the Issuer at $7.50 per share.
The Robertson Stephens Global Natural Resources Fund (the ``Global
Natural Resources Fund'') has acquired 643,700 Shares and 600,000 Warrants of
the Issuer privately and in open market transactions through the Vancouver
Stock Exchange (the ``VSE'').
The Robertson Stephens Global Low-Priced Stock Fund (the ``Global
Low-Priced Stock Fund'') has acquired 24,800 Shares and 24,800 Warrants of the
Issuer in private transactions.
The Robertson Stephens Developing Countries Fund (the ``Developing
Countries Fund'') has acquired 73,300 Shares and 73,300 Warrants of the Issuer
in private transactions.
The Robertson Stephens Orphan Fund (the ``Orphan Fund'') has acquired
248,500 Shares and 223,800 Warrants of the Issuer privately and in open market
transactions through The Toronto Stock Exchange (the ``TSE'').
The Robertson Stephens Contrarian Fund (the ``Contrarian Fund'') has
acquired 1,218,300 Shares and 1,031,900 Warrants of the Issuer privately and
in open market transactions through the VSE and TSE.
For the purposes of the applicable securities legislation, RS&Co., Inc.
is deemed to currently own or have control or direction over 2,259,900 Shares,
representing 8.51% of the Shares of the Issuer. If all Warrants were
exercised, RS&Co., Inc. would be deemed to own or have control or direction
over 4,259,900 Common Shares, representing 16.04% of the Common Shares of the
Issuer.
RS&Co., Inc. has acquired its securities of the Issuer for investment
purposes. Depending on economic or market conditions or matters relating to
the Issuer, RS&Co., Inc. may choose to either acquire additional Common Shares
of the Issuer or dispose of Common Shares.
For the purposes of applicable securities legislation, Messrs Sanford R.
Robertson, Paul H. Stephens, Michael G. McCaffery, G. Randy Hecht, and Kenneth
R. Fitzsimmons (the ``RS&Co. Shareholders''), Robertson, Stephens & Company
Investment Management, L.P. (``RSIM, L.P.''), Bayview Investors, Ltd.
(``Bayview''), the Orphan Fund and the Contrarian Fund may be deemed to be
acting jointly or in concert with RS&Co., Inc. in connection with the
securities of the Issuer. The RS&Co. Shareholders comprise all of the
shareholders of RS&Co., Inc. RS&Co., Inc. is the general partner of RSIM,
L.P. RSIM, L.P. and Bayview are the general partners of the Orphan Fund. The
Registered Investment Manager of the Contrarian Fund is RSIM, L.P. The General
Partner of RSIM, L.P. is RS&Co., Inc. The Orphan Fund and the Contrarian Fund
are the registered owners of all of the securities of the Issuer beneficially
owned by RS&Co., Inc. referred to above.
ROBERTSON STEPHENS & COMPANY, INC.
R. Greenwood
Chief Compliance Officer
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