fin-info.com
1998-02-10 ÿÿ(provided courtesy of Canadian Corporate News.)
register to receive future releases by email from CCN
Regal Goldfields Limited Company Update
TORONTO, ONTARIO--Regal Goldfields Limited (CDN - REGL) announced
today that it has completed a private placement of 750,000 units
at a price of $0.20 per unit for gross proceeds of $150,000. Each
unit will be comprised of one common share of Regal and one-half
of a common share purchase warrant, with each whole warrant
entitling the holder to purchase one common share of Regal at an
exercise price of $0.25 per share expiring three years from the
date of issue.
The proceeds of this private placement will be used to purchase
the 1 percent Net Smelter Royalty due on the Company?s Cape Breton
Island properties.
Regal presently has 10,563,643 common shares and 2,000,000 special
warrants outstanding. The special warrants are exercisable into
2,000,000 common shares and 1,000,000 common share purchase
warrants within six business days after a receipt is issued by the
Ontario Securities Commission for a final prospectus qualifying
such common shares and warrants, or on June 23, 1999, whichever is
earlier. Each common share purchase warrant entitles the holder
to acquire one common share in the capital of Regal at an exercise
price of $0.20 per common share at any time on or before December
23, 1999.
NO REGULATORY AUTHORITIES OR SIMILAR BODIES HAVE APPROVED OR
DISAPPROVED THE INFORMATION CONTAINED HEREIN.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Regal Goldfields Limited
Robert C. Brissenden
Secretary
(416) 364-1130
(416) 364-6745 (FAX) |
