Hello Everyone: "Gentry Announces Special Warrant Financing"
Sorry for any delay getting back to everyone, but I was in Toronto working on this financing. Also I could not comment on this transaction untill in was announced. Below in our News Release, if anybody has any questions please feel free to give me a call at 1 888 876 7197 (toll free) or e-mail me at bob@portal.ca
Special warrant financing
Gentry Resources Ltd GNY.B
Shares issued 13,420,064 Feb 18 close $1.13
Thu 19 Feb 98 News Release
Mr Hugh Ross reports
The company has completed a private placement of 1,700,000 special warrants at $1.00 for total gross proceeds of $1,700,000. In addition, the agents have been granted an option to sell up to an additional 170,000 special warrants at $1.00 for 45 days after closing. Each special warrant entitles the holder to acquire one share subject to adjustment in certain circumstances.
The special warrants will be offered through St James Securities Inc and First Marathon Securities, which will act as agents in connection with the special warrant offering.
Closing of the special warrant transaction is scheduled for March 2 1998,subject to completion of documentation and receipt of regulatory approval. Gentry intends to use its best efforts to file and obtain a receipt for a prospectus to qualify the common shares from the Ontario Securities Commissions on or before August 2 1998.
Proceeds will be used to finance exploration programs in Western Canada and West Africa.
Thank you for your interest,
Bob Vukovich
Manager of Investor Relations
Gentry Resources Ltd. |
