You are reading it wrong. Here is the "proposal stage"!
Rock Resources closes private placements
Rock Resources Inc
RKR
Shares issued 21,543,508
1999-02-25 close $0.23
Friday Feb 26 1999
Mr. Thomas Kennedy reports
Management has closed its convertible debenture private placement
announced in Stockwatch.........etc. etc.
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Here is the VSE filing or acceptance message
Rock Resources private placement
Rock Resources Inc
RKR Shares issued 21,543,508
1999-04-14 close $0.18
Thursday Apr 15 1999
The Vancouver Stock Exchange has accepted for filing a non-brokered
private placement of:
No. of shares:
333,333
Price:
15 cents
Warrants:
For 333,333 shares
Wt exercise price:
15 cents in year one; 20 cents in year two
Placees:
Elston Johnston 283,333; and Michael Foster
50,000
Finder's fee:
Woodcrest S.A. (Peter Leighton)
(c) Copyright 1999 Canjex Publishing Ltd.
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Here is the second release
Rock Resources Inc -
Rock Resources debenture private placement
Rock Resources Inc
RKR
Shares issued 21,543,508
1999-04-14 close $0.18
Thursday Apr 15 1999
The Vancouver Stock Exchange has accepted for filing a non-brokered
private placement of:
Convertible
debentures:
$400,000
Conversion price:
Convertible into units consisting of one share
and one share purchase warrant at 15 cents of
principal outstanding in year one, and at 20
cents in year two.
Maturity date:
March 1, 2001
Warrants:
Each warrant will have a term of two years
from the date of issuance of the notes and
entitle the holder to purchase one share. The
warrants are exercisable at 15 cents in the
first year and at 20 cents in the second. There
will be an automatic conversion by the
company at the end of the two-year term if
the debenture has not by then been converted
by the purchaser.
Interest:
15 per cent
Placees:
Bernie Kafka $102,000; Yung Soon Lee
$67,500; Anthony Balme $25,000; and 19
others
(c) Copyright 1999 Canjex Publishing Ltd.
canada-stockwatch.com
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