Steppe Gold Resources Ltd -
Two private placements
Steppe Gold Resources Ltd
SPE
Shares issued 27,967,926
1998-07-02 close $0.22
Friday Jul 3 1998
The VSE has accepted for filing a non-brokered private placement of:
No. of shares:
1,500,000
Price:
20 cents
Warrants:
For 750,000 shares
Wt exercise price:
22 cents for one year
Placee:
Antares Mining and Exploration
Convertible Debenture
Convertible
debenture:
$1,700,000
Conversion
price:
Convertible, at the option of the holder, into 7,727,273 shares
and 7,727,273 share purchase warrants at any time during the
term of the debenture (debenture maturity date: June 26,
1999). The holder may elect at maturity to convert the
debenture into a 20 per cent interest in the company's interest
in the Mizek, Kosmurun and Akbastau projects.
Maturity date:
June 26, 1999
Warrants:
Each warrant will have a term of one year from the date of
issuance of the notes and entitle the holder to purchase one
share. The warrants are exercisable at 22 cents.
Placee:
Antares Mining and Exploration
Finder's fee:
6 per cent of the total gross proceeds in cash and 350,000
two-year share purchase warrants, exercisable at 25 cents in
the first year and at 28.75 cents in the second, to Coxswain
Row Capital
Coxswain Row Capital is Juniors company. Junior is an Accountant by Profession.
fIXER
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