Meeting Re: Proposed Major Transaction
PROCESS CAPITAL CORP. ("POR-Y")
- Meeting Re: Proposed Major Transaction
R. Brian Murray, President of Process Capital Corp. ("Process" or
the "Corporation") , a Junior Capital Pool company, announces the
proposed arms length Major Transaction being the acquisition of
Advanced Process Fuels Inc. ("APF") , a private Ontario company
engaged in the business of building and operating waste oil
micro-refineries, will be considered by the shareholders at an
Annual and Special Meeting of Shareholders to be held on October 30,
1997 at 10:00 am at #500, 630 - 4th Avenue SW Calgary,
Alberta.
APF has advised Process that it has completed construction of its
micro-refinery at their research and training centre near Kingston,
Ontario. The plant is presently undergoing a detailed phased start-up.
APF will commission an independent engineering report that will verify
production and yield capabilities upon completion of the testing
period.APF has completed a private placement of 5,300,000 Units at
$0.50 per Unit. The total proceeds received from the private placement
is $2,575,000. The proceeds are being allocated to the construction
of the micro-refinery and development of the Kingston complex. Each
Unit consists of one APF share and one half of a B Warrant entitles the
holder to purchase one share at $1.00 each for one year form the closing
of the Major Transaction.
Here is some reading on this stock there will be plenty of news out
by the end of the month. This one is going places.
At the closing of the Major Transaction the total Process shares
outstanding will be 16,200,000 shares.There will be 2,500,000 A
Warrants (exercisable at $1.00 each) and options to purchase
1,430,000 common shares at $0.20 each. Full exercise of the warrants
and options will result in $4,186,000 of additional equity.The common
shares of Process trade on The Alberta Stock Exchange under the symbol
"POR".
TEL: (416) 864-0237 PROCESS CAPITAL CORP. FAX: (416) 864-0537 R. Brian
Murray, President |
