9,725,000 special warrants at $0.36
North American Tungsten Corporation Ltd NTC
Shares issued 10,405,975 Aug 6 close $0.40
Thu 7 Aug 97 Private Placement
The VSE has accepted for filing a brokered private placement of 9,725,000
special warrants at $0.36. Each special warrant is exchangeable, at no
additional cost, into one share. If a final receipt for a prospectus is not
obtained by November 22 1997, each holder of special warrants will be
entitled to 1.1 shares per exercised special warrant. This penalty
provision is not applicable to any insider portions of this private
placement.
The placees are Lombard Odier & Cie 2,200,000; Credit Suisse Zurich
2,060,000; Banque Indosuez SA 1,175,000; and eight others.
The agent, Loewen, Ondaatje, McCutcheon Ltd, will receive a corporate
finance fee of $17,640.
A cash commission equal to 7% of the consideration from the special
warrants sold by the agent, excluding any special warrants purchased by
insiders of the company. The agent will also receive special compensation
options to acquire such number of shares equal to 5% of the total number of
special warrants sold by the agent at $0.36 for 18 months.
This private placement closed July 28 1997.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com |
