I find it difficult to make the leap from Iscor to the mercenary group. Ia this another one where you forgot to say "Searle Says"
Ill post the details of the share transaction here just in case there may be something worth digging for.
"In August of 1997, WPI completed a private placement of 4,000,000 shares for total proceeds of CAD$3,000,000 with Oribi Resources Inc., a wholly-owned subsidiary of Iscor Mineral Developments B.V., itself a subsidiary of companies wholly-owned by the major South African steel and mining company Iscor Ltd. Iscor Ltd. is a major South African steel and mining company with a market capitalization of approximately US$ 2 billion. The company listed on the Johannesburg Stock Exchange ("JSE") in 1989, and one of the largest industrial companies on the JSE with about 30% of its equity held by investors outside South Africa. The private placement to Iscor consisted of 4,000,000 units with each unit consisting of one common share at CAD$0.75 per share and one common share purchase warrant exercisable at prices escalating from CAD$2.00 to CAD$7.00 over 4 years. If all of the warrants were exercised at the minimum exercise prices this would result in WPI receiving aggregate proceeds of CAD$16,000,000."
Ciao
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