Ultrasonic Industrials USI/ASE Message Board

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Gold/Mining/Energy : Ultrasonic Industrials USI/ASE

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To: Kevin Vickers who wrote (32)	10/31/1997 6:45:00 PM
From: Kevin Vickers	Read Replies (1) of 47

$1.20 range is now at hand. I have been selling/taking profits. This has bee good ride, unfortunately does not appear very many have enjoyed the ride on this one. Hello. 7.8m private placement completed Ultrasonic Industrial Sciences Ltd UIS Shares issued 40,111,782 Oct 29 close $1.20 Thu 30 Oct 97 News Release Mr Jim Norrie reports The company has completed its $7,800,000 financing. The company entered into an agreement on October 8 1997 with FirstEnergy Capital to issue 12 million special warrants at $0.65 on a private placement basis. The net proceeds of approximately $7,250,000 after commissions and expenses will be used to finance the construction of a silica sand processing plant at the company's Peace River silica sand deposit. Each special warrant permits the holder to acquire one share and half a warrant. One full warrant plus $0.80 shall entitle the holder to acquire one share prior to December 15 1998.

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