Tom, I think it's most likely Loewen. Sold 400,000+ shares in the last four days, can't have much left. Loewen was part of the private placement posted below but the exercise price was $1.30 for the warrents so we are safe at these levels I think. I believe there is over 100,000 shares being bid between $1.35 and $1.40 as I write this so there is little downside.
What do you think?
Good Luck,
Essam.
Sonoma Resource Corp - Private Placement
5m special warrants at $1.10
Sonoma Resource Corp SNA
Shares issued 9,388,962 Oct 30 close $1.35
Wed 30 Oct 96 Private Placement
The VSE has accepted for filing a private placement of 5,000,000 special
warrants at $1.10. Each special warrant is exercisable for a unit
consisting of one share and one-half of a share purchase warrant. Each
whole warrant is exercisable into one share at $1.30 until midnight on
October 21 1998.
Warrants: For 2,500,000 shares
Wt exercise price: $1.30 for two years
Placees: BPI Cdn Opportunities Fund 725,000; National Trust A/C
139979-0-3 530,200; 20/20 RSP Aggressive Equity Fund
362,500; and three others.
Agent: Loewen, Ondaatje, McCutcheon Ltd
Commission: 7% of gross proceeds of the special warrants placed by
the agent, plus 250,000 special compensation options
exercisable for no additional consideration any time
prior to midnight on October 21 1997 for 250,000
compensation options. On exercise of the compensation
options and payment to the issuer of $1.10 per
compensation option exercised, the agent will acquire
one share and a warrant to acquire an additional share
for $1.30. The compensation option may be exercised at
any time prior to the earlier of October 22 1999, or
the date which is two years and ten days after the date
of issue of a receipt for the company's prospectus in
Ontario.
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