Capital Alliance closes $704,500 financing
Fri 14 Sept 2001
News Release
Mr. Toby Chu reports
Capital Alliance Group has closed its oversubscribed special warrant
private placement. Originally a private placement of one million special
warrants, a total of 1,409,000 special warrants were sold at a price of 50
cents per special warrant raising gross proceeds of $704,500.
Each special warrant is convertible, at no additional cost, into one unit
consisting of one common share and one share purchase warrant, and each
warrant is exercisable for a two-year period into one common share at a
price of 62 cents. The securities issued in connection with this private
placement are subject to a Canadian Venture Exchange hold period expiring
on Jan. 10, 2001, and a Securities Act hold period expiring on Aug. 22,
2002. The Securities Act hold period will be expire on Dec. 22, 2001, if,
at the time the special warrants are converted, a current annual
information form for the company is on file with the applicable securities
commissions and the company otherwise qualifies to offer the reduced hold
period. |
