Let us try again:
FORMATION CAPITAL CORPORATION ANNOUNCES RECEIPTS FOR
FINAL PROSPECTUS DATED APRIL 30, 1998 RECEIVED
VANCOUVER, May 6 /CNW/ - Formation Capital Corporation (the ''Company'')
is pleased to announce that receipts for its final prospectus dated April 30,
1998 were issued on May 5, 1998 by the Securities Commissions for the
Provinces of Ontario, British Columbia and Alberta. The prospectus qualifies
the distribution of:
1. 1,500,000 common shares and 462,000 non-transferable common share
purchase warrants designated 'F' Warrants, and 1,000,000 common share purchase
warrants designated 'G' Warrants, issuable upon the exercise or deemed
exercise of 1,500,000 special warrants previously distributed by the Company
pursuant to a Special Warrant Private Placement which closed on November 20,
1997. The 'F' Warrants entitle the holders to purchase up to an aggregate
462,000 common shares of the Company at a price of $1.25 per share at any time
on or before May 20, 1998, and thereafter at a price of $1.45 per share at any
time on or before November 23, 1998. The 'G' Warrants entitle the holders to
purchase up to an aggregate 1,000,000 common shares of the Company at a price
of $1.15 per share on or before May 20, 1998, and thereafter at a price of
$1.34 per share at any time on or before November 23, 1998;
2. 217,392 common shares and 217,392 common share purchase warrants
issuable upon the exercise or deemed exercise of 217,392 special warrants
previously distributed by the Company pursuant to a Special Warrant Private
Placement which closed on December 23, 1997. The common share purchase
warrants entitle the holders to purchase up to an aggregate 217,392 common
shares of the Company at a price of $1.25 per share at any time on or before
February 28, 2000;
3. 57,650 common shares and 57,650 common share purchase warrants
issuable upon the exercise of 57,650 previously issued Agent's Special
Warrants, each common share purchase warrant entitling the purchase of up to
an aggregate 57,650 common shares on the same terms as the 'G' Warrants;
4. Compensation Option issuable upon the exercise of an outstanding
Agent's Special Option, entitling the purchase of up to an aggregate 75,000
units at a price of $1.15 per unit, each unit comprised of one common share
and one common share purchase warrant, such purchase warrants entitling the
purchase of up to an aggregate 75,000 common shares on the same terms as the
'G' Warrants; and
5. 13,043 common shares and 13,043 common share purchase warrants
issuable upon the exercise of 13,043 previously issued Finder's Special
Warrants, each common share purchase warrant entitling the purchase of up to
an aggregate 13,043 common shares at a price of $1.25 per share at any time on
or before February 28, 2000.
ON BEHALF OF THE BOARD
''Mari-Ann Green''
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Mari-Ann Green, Chief Executive Officer
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