here we go finally - a NR of the PP
$2,272,500 private placement
International Tournigan Corporation ITG
Shares issued 16,553,331 Jun 30 close $0.69
Tue 30 Jun 98 News Release
Mr. A.E. Daem reports
The company has entered into a letter of engagement with Global Securities
to act as agent on a best efforts basis for an offering of up to 3,496,154
special warrants at 65 cents for up to $2,272,500.
Each special warrant will, upon exercise and without payment of additional
consideration, entitle the holder to receive one unit, with each unit
comprised of one share and one warrant to purchase one share at 65 cents in
year one and at 75 cents in year two.
This offering replaces an offering of special warrants by Global
Securities, previously announced on April 27, 1998. The company has
terminated the offering of special warrants by Taurus Capital Markets
previously announced on April 27, 1998.
The company has agreed to use reasonable efforts to qualify for the BCSC
short hold period system. Upon qualification for use of the short hold
period system, the shares to be issued as part of the units upon exercise
of the special warrants will be subject to a required hold period in
British Columbia of four months from the date of issue of the special
warrants.
Global will offer for sale 3,496,154 special warrants and receive a cash
commission equal to 9 per cent of the proceeds raised, or 10 per cent in
units, based on total units sold.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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