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Gold/Mining/Energy : V.EGG - Ebony Gold & Gas
EGG 4.000-0.7%2:00 PM EST
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To: Michael Hylton who wrote (1074)11/15/1998 6:18:00 AM
From: Paul Kramer  Read Replies (1) of 1088
 
Hi Michael

Looks like a cross. New money starting to change hands. Did you get the news release?

Ebony Gold and Gas Inc
EGG
Shares issued 7,853,599
1998-11-11 close $0.1
Friday Nov 13 1998
Mr. Wayne Hansen reports the company has negotiated a $17,500 private placement to consist of special warrants, each of which will be convertible for no additional consideration into that number of units as is determined by dividing the purchase price for the special
warrant by the average closing price of the company's consolidated shares as traded on the Vancouver Stock Exchange over the 10 trading days subsequent to the expiration of 30 calendar days following the implementation of the share consolidation announced by the company in Stockwatch Aug. 13, 1998, less any discount therefrom provided for under the rules and policies of the Vancouver Stock Exchange.

Each unit will consist of one consolidated share and one non-transferable warrant, with each warrant to entitle the holder to purchase one additional consolidated share for two years from the date of issuance of the special warrants, at the conversion price during the first year, and at a 15 per cent premium to the conversion price during the second year. The proceeds from this private placement will be used for working capital purposes.
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