TSX TSX-VEN ME CDN Any US
Canadian Company Press Releases
CNI 2003-11-18 (provided courtesy of CCNMatthews .)
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Canico Resource Corp.: Barclays and CIBC Appointed to Arrange Onca-Puma Financing
VANCOUVER, BRITISH COLUMBIA--Canico Resource Corp. is pleased to
announce that it has engaged Barclays Capital, the investment
banking division of Barclays Bank PLC, and Canadian Imperial Bank
of Commerce ("the Banks") to advise on and arrange project
financing for the Company's Onca-Puma nickel laterite project
located in Para State, Brazil. The mandate encompasses advising
and arranging services in respect of both conventional project
loans from the commercial bank community and other forms of
project debt from capital markets, export credit agencies and
suppliers. The Banks will also advise on the structure and size
of the project financing. As part of the engagement, the Banks
will appoint an independent engineer to provide early technical
input to Canico's feasibility study and other project studies on
behalf of potential lenders, with a view to ensuring that, upon
completion, these studies will be bankable.
As part of the compensation for this engagement the Banks will
receive 1,250,000 non-transferable share purchase warrants
exercisable into 1,250,000 common shares. The warrants have an
exercise price of $15.55 per share and will expire November 17,
2007. The number of warrants available for exercise by the Banks
is subject to a number of conditions, including the successful
arrangement of project financing for the project, a satisfactory
level of participation in such financing by the Banks and certain
other events. The issue of the warrants and the issue and listing
of the underlying shares are subject to regulatory approval and
applicable statutory hold periods.
Mr. Michael Kenyon President & CEO of Canico said, "Canico is
very pleased to have Barclays Capital and CIBC join our team. We
are all dedicated to seeing the full potential of Onca-Puma
realized in the earliest possible timeframe".
CANICO RESOURCE CORP.
J. Michael Kenyon, President & CEO
Cautionary Notices
This News Release includes certain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform
Act of 1995 of the United States. Other than statements of
historical fact, all statements in this release, including,
without limitation, statements regarding potential mineralization
and resources, estimated or potential future production,
potential ranking amongst nickel producers, and future plans and
objectives of the Company, are forward-looking statements that
involve various known and unknown risks, uncertainties and other
factors. There can be no assurance that such statements will
prove to be accurate. Actual results and future events could
differ materially from those anticipated in such statements.
Readers are cautioned not to place undue reliance on these
forward-looking statements that speak only as of the date of this
announcement. Important factors that could cause actual results
to differ materially from the Company's expectations include,
among others, the ongoing results of current exploration
activities, conclusions of any scoping studies, pre-feasibility
or feasibility studies, changes in project parameters, and future
metal prices, as well as those factors discussed under the
heading "Risk Factors" and elsewhere in the Company's documents
filed from time to time with the Toronto Stock Exchange, the TSX
Venture Exchange, Canadian securities regulators and other
regulatory authorities. All subsequent written and oral
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
this notice.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Canico Resource Corp.
J. Michael Kenyon
President & CEO
(604) 699-9446
(604) 669-9447 (FAX)
Website: www.canico.com
The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this release.
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