Newz out!...
Campbell to issue rights for $4.99-million
2006-09-28 11:23 ET - News Release
Mr. Andre Fortier reports
CAMPBELL RESOURCES ANNOUNCES RIGHTS OFFERING AND RECEIPT FOR FINAL PROSPECTUS
Campbell Resources Inc. has obtained a receipt for its final short-form prospectus qualifying the distribution of rights and the distribution of securities issuable upon the exercise of previously issued special warrants. The obtaining of this receipt satisfies the final condition for release to Campbell from escrow of the funds raised under the previously announced special warrant offering.
Campbell will issue transferable rights to holders of its common shares. Shareholders of record at the close of business on Oct. 10, 2006, will receive one transferable right for each share held. Every five rights will entitle the holder to subscribe for and purchase three Campbell units at a price of eight cents per unit at any time up to 4 p.m. on Nov. 6, 2006. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles its holder to subscribe for one additional common share at a price of 15 cents per share until the earlier of May 26, 2008, and the date that is 30 days following the date of the accelerated expiry notice, being the notice that the corporation may provide by press release on or after May 26, 2007, in the event that the volume weighted average price of the common shares of the corporation on the Toronto Stock Exchange for 20 consecutive trading days is at least 30 cents.
The rights will be listed on the Toronto Stock Exchange under the symbol CCH.RT from Oct. 5, 2006, to Nov. 6, 2006.
Net proceeds to Campbell from the rights offering will be up to an estimated $4,994,602. Campbell will issue 108,220,881 rights. The rights offering will result in the issuance by Campbell of a maximum of 64,932,528 units consisting of 64,932,528 common shares and 32,466,264 warrants.
The rights offering will be made in all the provinces and territories of Canada. The shares and warrants issuable upon exercise of the rights are not being offered to residents of the United States, except to accredited investors (as defined under the rules of the U.S. Securities Act), or any country other than Canada.
Notwithstanding the foregoing, ineligible shareholders who establish, to the satisfaction of the Campbell, that the receipt by them of rights and the issuance to them of units, upon the exercise of the rights, will not be in violation of the laws of the jurisdiction of their residence, will be allowed to exercise the rights. |
