News release: Ebony Gold & Gas Inc.
Wednesday, July 15, 1998
Appointment of Director
EBONY GOLD & GAS INC ("EGG-V;EBGGF-L") - Appointment of Director
Wayne A. Hansen, Secretary and Director of Ebony Gold & Gas Inc. (the
"Company") announces the appointment of J. Christopher Loosley, of Vancouver,
B.C. as a Director.
The Company also announces that it has negotiated a $66,000 private placement, to
consist of 440,000 units at a price of $0.15 per unit, each unit to consist of one
common share and one
non-transferable share purchase warrant, with each warrant to entitle the holder to
purchase one additional common share for a period of 2 years, at $0.15 per share
during the first year, and at $0.17
per share during the second year. The proceeds of this private placement will be used
for working capital purposes. The closing of this private placement will be subject to
each of the following:
(a)
the Company filing all outstanding financial statements
and quarterly reports with the British Columbia
Securities Commission;
(b)
the rescission of the Cease Trade Order issued by the
British Columbia Securities Commission on July 14, 1998
in respect of all trading in the securities of the
Company; and
(c)
the Company receiving formal acceptance from the
Vancouver Stock Exchange therefor. TEL: (604) 641-1341
Wayne A. Hansen, Secretary and Director FAX: (604) 844-2880 |
