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Gold/Mining/Energy : Napier International Technologies Inc. (T.NIR) -- Ignore unavailable to you. Want to Upgrade?

To: xray who wrote (797)	7/15/1998 1:58:00 AM
From: Ginco	Read Replies (1) \| Respond to of 2444

ÿ NIRÿÿ1998-07-14 ÿÿ(provided courtesy of ISDN Wire Service) NAPIER INTERNATIONAL TECHNOLOGIES INC. - $970,875 SPECIAL WARRANT FINANCING VANCOUVER, B.C.-- On April 28, 1998, Napier International Technologies Inc. (NIR.TSE) announced that it had made arrangements for the placement on a best efforts basis of a Special Warrant financing for up to two million special warrants at a price of $2.25. Napier International Technologies Inc. is pleased to report that it has accepted subscriptions for 431,500 special warrants in exchange for proceeds of $970,875. Each special warrant, priced at $2.25 will be convertible into one unit consisting of one share and one share purchase warrant. Each full warrant will be exerciseable into one additional share of the Company at a price of $2.25 for a period of one year. Proceeds will be added to general working capital and will be used for the continued development of new environmentally advantage products which will compliment the existing line of friendly paint and coatings strippers and cleaners. Proceeds will also be utilized for the global marketing launch of the existing environmentally friendly product line. A 10% fee is payable in cash or special warrants on a portion of the completed units. The financing is subject to regulatory acceptance of the documents filed. ON BEHALF OF THE BOARD OF DIRECTORS Bradley T. Aelicks Chairman/Director Phone: (604) 888-5332 Fax: (604) 888-0659