CALGARY, Sept. 8 /CNW/ - Flag Resources, subject to requisite regulatory
filing, has agreed to issue ten million shares, valued at $0.15 a share, to
Cooksville Steel Limited, whose shares are owned by Flag's chairman Sidney
Miszczuk, and family, in payment of $1,500,000, being a portion of the
indebtedness owed to Cooksville Steel by Flag.
Flag has agreed to issue 13,000 shares, to an investor, valued at $0.15 a
share, for payment of indebtedness of $1950.00, subject to requisite
regulatory filing.
In payment of cash advances of $249,600 by seven investors, Flag, for
cash advances of $60,000, in 2004, has agreed to issue 600,000 shares, valued
at $0.10 a share, with 600,000 share purchase warrants, exercisable at $0.15 a
share, expiring on December 13, 2007, and for cash advances of $189,600, in
2005 & 2006, has agreed to issue 1,264,000 shares, valued at $0.15 a share,
with 1,264,000 share purchase warrants exercisable at $0.20 a share, expiring
on December 13, 2007, subject to requisite regulatory filings.
As of August 31, 2006, Flag has 26,726,455 shares outstanding |
