2,620,000 special warrants at $0.30
Poplar Resources Ltd PPX
Shares issued 16,155,679 Oct 28 close $0.30
Wed 29 Oct 97 Private Placement
The VSE has accepted for filing the first tranche of a brokered private
placement of 2,620,000 special warrants (of a 7,000,000 special warrant
offering) at $0.30. Each special warrant is exchangeable, at no additional
cost, into one share.
If a final receipt for a prospectus has not been obtained within 150 days,
each holder of special warrants will be entitled to receive 1.1 shares per
exercised special warrant.
The placees are Benitz & Partners (Bryan M. Benitz) 870,000; The Harmattan
Corp (b/o Coson Company) 350,000; Robert L. Bell 350,000; and three others.
The agent, Union Securities, will receive a 9% commission, of which half
will be payable in cash and the balance in the issuance of agent's special
warrants. The agent's special warrants will have the same terms and
conditions as described above. The agent will also receive compensation
options equal to 15% of the number of special warrants sold. Each
compensation option will entitle the agent to acquire an agent's warrant.
Each agent's warrant will entitle the agent to acquire one additional share
at $0.30 for one year.
The agent will receive a corporate finance fee of $35,000. |
