What does this mean? What is a "Right" and does it have any
special significance?
Thanks, Kent.
Wednesday February 26 9:00 PM EDT
Sanctuary Woods Plans to Conduct Rights Offering
SAN MATEO, Calif., Feb. 26 /PRNewswire/ -- Sanctuary Woods Multimedia Corporation (Vancouver: SWD) announced
today that it plans to conduct a rights offering to the holders of record as of March 7, 1997 of its Common Stock and 8%
Convertible Debentures due July 31, 1999. Each Right will allow the holder to purchase one share of the Company's Common
Stock at a price the Company estimates will be $0.12 per share. Holders of Common Stock will receive one Right for each
share of Common Stock held by them on the record date and holders of Debentures shall receive one Right for each $0.12
principal amount of Debentures held by them on the record date. Accordingly, the Company plans to issue an aggregate of
67,424,497 Rights, with an aggregate of 23,241,164 Rights issued to the holders of the Common Stock and 44,183,333
Rights issued to the holders of the Debentures. The Company plans to allow any of the Rights holders to subscribe to exercise
any Rights not exercised.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet
become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration
statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state.
Founded in 1988, San Mateo-based Sanctuary Woods Multimedia is the innovative developer of the Head Coach line of
sport-based educational software, including NFL(TM) Math and NFL(TM) Reading, and Major League Math(TM), as well
as Franklin Learns Math, Franklin's Reading World and Franklin's Activity Center.
NOTE: Sanctuary Woods is a registered trademark and Head Coach is a trademark of Sanctuary Woods Multimedia.
Franklin is a trademark of Kids Can Press, Ltd. Major League Math is a trademark of Major League Baseball Properties,
Inc. NFL is a trademark of National Football League Properties The Vancouver Stock Exchange has not reviewed and does
not accept responsibility for the adequacy or accuracy of the contents of the foregoing. SOURCE Sanctuary Woods
Multimedia Corp. |
