Griz, look some news at Stockwatch today, not that much on the Model of the Century but they must have plans for the efforts:
Birch Mountain Resources Ltd -
Birch Mountain completes $1-million private placement
Birch Mountain Resources Ltd BMD
Shares issued 24,622,290 1999-04-13 close $1.2
Tuesday Apr 13 1999
Mr. Doug Rowe reports
Birch Mountain has closed the non-brokered private placement announced in Stockwatch April 5, 1999. The private placement was fully subscribed and raised $1,044,000 for the company, less expenses estimated to be $5,000. No agents' fees or commissions were payable on this transaction.
The private placement that was applied for on Feb. 4, 1999, and conditionally approved by the Alberta Stock Exchange on March 1, 1999, consisted of 2.9 million units under which 1.45 million shares were issued with attached flow-through benefits, and 1.45 million were issued without flow-through benefits. Each unit was priced at 36 cents and consisted of one share and one-half warrant. Each warrant entitled the holder to purchase one share at $1 on or before April 12, 2000.
The proceeds of the financing will be applied to the working capital of Birch Mountain and will primarily be committed to furthering the Prairie Gold project in western Canada.
In a private transaction, Douglas Rowe, president and chief executive officer of the company, has acquired 1,124,299 common shares from Saskatoon Natural Resources Ltd. The shares, together with 691,668 shares previously held by Mr. Rowe, represent 7.4 per cent of the outstanding common shares of Birch Mountain.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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