Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: steve host who wrote (5990)	1/12/1999 5:53:00 PM
From: Ruyi	Read Replies (1) of 18998

"Yorktown?- just put out a buy on BII Bid.Com International Inc BII " I wonder what motivated them to do that?? Shares issued 21,023,000 1998-11-18 close $2.88 Thursday Nov 19 1998 Mr. Paul Godin reports The company has entered into a bought deal agreement with Yorkton Securities in connection with the issue and sale of 5.7 million special warrants. The special warrants will sold at $1.75 for total gross proceeds of approximately $10.0-million. Paul Godin and Jeffrey Lymburner have granted Yorkton Securities an option, exercisable until closing, to acquire up to an additional 400,000 special warrants. The transaction is scheduled to close on or about Nov. 30, 1998. Subject to adjustment in certain events, each special warrant will entitle the holder to acquire one unit consisting of one share and one-quarter of one warrant. Each whole warrant will be exercisable to acquire one share at $1.75 at any time prior to the date which is the earlier of 10 days after the filing of a registration statement or preliminary prospectus for a U.S. public offering and Dec. 31, 1999. In the event that the company fails to obtain receipts for a final prospectus qualifying the distribution of the securities underlying the special warrants from applicable securities regulators prior to the date that is 90 days following the closing date, each special warrant will be exercisable to acquire 1.05 units (in lieu of one unit). The company intends to use the net proceeds for advertising and marketing, business to business development, research and development, working capital and prospective acquisitions. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com Next Previous

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