I guess some people like to associate themselves with BAD "BLANK"
ETRUSCAN ENTERPRISES LTD. ("EET")
NOTICE TYPE: Private Placement-Non-Brokered
NOTICE DATE: April 18, 1997
The Vancouver Stock Exchange has accepted for filing documentation with respect
to a Non-Brokered
Private Placement of Special Warrants announced April 8, 1997:
Number of Special
Warrants: 4,000,000 Special Warrants
Purchase Price: $6.50 per Special Warrant
Description: Each Special Warrant is exchangeable, at no additional cost, into
one
common share of the Company and one non-transferable share
purchase
warrant. Each warrant will entitle the holder to purchase one
additional
common share of the Company at a price of $7.50 per share if
exercised
during the first year and at a price of $8.475 per share during
the second
year.
The Company has agreed to use its best efforts to file a final
prospectus
to qualify the distribution of the underlying securities upon
exercise of the
Special Warrants. If, within 120 days of closing a receipt for
the final
prospectus has not been obtained, each Special Warrant will be
converted
into 1.1 common shares and 1.1 warrants. If, within 220 days of
closing
a receipt for the final prospectus has not been obtained, each
Special
Warrant will be converted into 1.21 common shares and 1.21
warrants.
One half of the gross proceeds raised will be held in escrow
until the fifth
business day following issuance of a receipt for final
prospectus. If a
receipt for a final prospectus is not issued within 120 days of
closing, each
special warrant holder will be entitled to exercise a right of
retraction in
respect to half the special warrants held. The right of
retraction expires 10
business days following the date which is 220 days after the
closing date.
Placees: Dynamic Precious Metals Fund
(as Portfolio Manager) 950,000
Dynamic Global Precious Metals Fund
(as Portfolio Manager) 210,000
Dynamic Global Resource Fund
(as Portfolio Manager) 300,000
BGR Precious Metals Inc.
(as Portfolio Manager) 540,000
The Robertson Stephens Global Natural Resources Fund
(as Portfolio Manager) 600,000
The Robertson Stephens Developing Countries Fund
(as Portfolio Manager) 73,300
The Robertson Stephens Global Low-Priced Stock Fund
(as Portfolio Manager) 24,800
The Robertson Stephens Contrarian Fund
(as Portfolio Manager) 1,031,900
The Robertson Stephens Orphan Offshore Fund, L.P.
(as Portfolio Manager) 46,200
The Robertson Stephens Orphan Fund
(as Portfolio Manager) 223,800
These securities have not yet been issued. The Company shall issue a news
release if the private
placement does not close promptly.
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