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Gold/Mining/Energy : LAORF La Teko to be bought by Silverado Mines
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To: Stan Greene who wrote (14)4/8/1998 11:58:00 AM
From: Stan Greene  Read Replies (1) of 25
 
Hello,

News release was issued on La Teko site. You can check out the rest at lateko.com

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LA TEKO RESOURCES LTD. | VSE-LAO - NASDAQ-LAORF

Vancouver, B.C., April 8 , 1998: La Teko Resources Ltd. (LAORF-NASDAQ, LAO-VSE) is pleased to announce that Kinross Gold Corporation ("Kinross") has, subject to due diligence and regulatory approval, agreed to subscribe for a private placement of 2,000,000 units at US$0.85 per unit for gross proceeds of US$1.7 million. Each unit consists of one common share of La Teko and one common share purchase warrant. Each purchase warrant will entitle Kinross to purchase one common share of La Teko at a price of US$1.05 per share in the first twelve months after closing and at a price of US$1.25 per share in the period commencing twelve months after closing and ending twenty four months after the date of closing. This private placement is expected to close before the end of April 1998. A finder's fee is payable amounting to 5.9% of the proceeds, plus 133,000 share purchase warrants with the same terms as those described above.

<snip>

La Teko Resources Ltd. is a Vancouver based gold exploration and development company. The Company owns and operates properties in Alaska and Northern Canada.

On behalf of the Board of Directors
"Gerald G. Carlson"
Gerald G. Carlson, Ph.D., P.Eng.
President & CEO
lateko.com
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