Financial adviser appointed
Steppe Gold Resources Ltd SPE
Shares issued 27,967,926 Jun 19 close $0.18
Fri 19 Jun 98 News Release
Mr. John Menzies reports
Coxswain Row Capital Corporation (CR) has been appointed as financial
adviser of the company.
CR will assist the company in raising private placement financing, to
finance the development of the company's Mizek heap leach project and to
finance its very prospective Kazakhstan exploration properties. CR also
acted as agent in the previously announced Antares Mining and Exploration
financing of $300,000 by way of private placement and proposed convertible
debenture issuance of $1,700,000.
CR will receive on closing of the convertible debenture, a fee of 350,000
share purchase warrants having a two year term, and an exercise price of 25
cents per share in year one and 28.75 cents in year two. CR will also
receive a commission of 6 per cent of gross proceeds raised from this
financing and a commission of up to 6 per cent on future private placement
financings raised.
The term of the engagement of CR will be the earlier of 120 days from June
13, 1998 or 30 days past the date on which Standard Bank London Limited
confirms, the completion of technical and legal due diligence on the Mizek
heap leach project. |
