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Gold/Mining/Energy : PNL- ASE- (PNL.AL)Pender Capital Corporation -- Ignore unavailable to you. Want to Upgrade?

To: tide who wrote (22)	7/29/1998 10:34:00 PM
From: kurp	Read Replies (1) \| Respond to of 109

Just in case you haven't seen these yet: 07/27/1998 21:04:00 / PENDER CAPITAL CORP PENDER CAPITAL CORP ("PNL-Y;PNDCF-L") - NEWS RELEASE DATED JUNE 23, 1998 AMENDED GILBERT KANG, PRESIDENT OF PENDER CAPITAL CORP ANNOUNCES THAT FOLLOWING IS AN AMENDED NEWS RELEASE COVERING ORIGINAL DATED JUNE 23, 1998. SUBJECT TO REGULATORY APPROVAL, THE COMPANY HAS ARRANGED A PRIVATE PLACEMENT OF 100,000 UNITS AT $0.65 PER UNIT. (ORIGINALLY $0.50) EACH UNIT IS COMPRISED OF ONE COMMON SHARE AND ONE WARRANT TO PURCHASE ONE SHARE FOR TWO YEARS AT A PRICE OF $0.81 PER SHARE. (ORIGINALLY $0.60 FIRST YEAR AND $0.70 SECOND YEAR). THE $65,000.00 PROCEEDS WILL BE USED FOR GENERAL WORKING CAPITAL PURPOSES. TEL: (604) 718-2878 GILBERT KANG, PRESIDENT TEL: (888) 244-7722 FAX: (604) 718-2879 ______________________________________ and........ 08/27/1998 00:00:00 / PENDER CAPITAL CORP PENDER CAPITAL CORP ("PNL-Y;PNDCF-L") - POSITIVE DUE DILIGENCE REPORT ON GRANICOR GREENLEAF JV - CONVERTIBLE DEBENTURE OFFERING GILBERT KANG, PRESIDENT OF PENDER CAPITAL CORPORATION IS PLEASED TO REPORT THAT THE COMPANY HAS RECEIVED A POSITIVE REPORT FROM LES LABORATORIES S.L. (1981) INC., AN INDEPENDENT GEOLOGICAL ENGINEERING CONSULTING FIRM RETAINED BY THE COMPANY TO CONDUCT A DUE DILIGENCE REVIEW OF THE GRANICOR GREENLEAF QUARRY. THE STUDY VERIFIED SIGNIFICANT QUALITY GREEN GRANITE RESERVES SUITABLE FOR THE FABRICATION OF A BROAD RANGE OF FINISHED PRODUCTS INCLUDING FLOOR SLABS, PANELS, MONUMENTS, AND FIRST CLASS BLOCKS. THE STUDY ALSO CONFIRMED POSITIVE MARKET INTEREST IN THE GREENLEAF GRANITE AND STRONG PROFIT POTENTIAL BASED UPON PRICING IN LINE WITH COMPETITIVE GREEN GRANITES AND PRODUCTION COSTS BEING CONSISTENT WITH A NEARBY QUARRY ALSO BEING OPERATED BY GRANICOR. PROPERTY TITLES AND PERMITTING FOR FULL QUARRY PRODUCTION ACTIVITIES WERE ALSO VERIFIED. CONVERTIBLE DEBENTURES OFFERING THE COMPANY HAS ARRANGED THE ISSUANCE OF UP TO 15 REDEEMABLE 15% CONVERTIBLE DEBENTURES (THE "DEBENTURE") AT A PRICE OF $100,000 PER DEBENTURE FOR TOTAL OFFERING OF UP TO $1,500,000. EACH DEBENTURE WILL HAVE THE FOLLOWING TERMS: (A) CARRIES AN INTEREST RATE OF 15%, BOTH BEFORE AND AFTER MATURITY, COMPOUNDED ANNUALLY AND PAID ANNUALLY CALCULATED NOT IN ADVANCE; (B) SHALL HAVE A TERM OF THREE (3) YEARS, EXPIRING JUNE 30, 2001; AND (C) MAY BE CONVERTED IN WHOLE OR IN PART INTO COMMON SHARES OF THE COMPANY AT A PRICE OF $0.75 PER SHARE DURING THE FIRST YEAR, $1.50 PER SHARE DURING THE SECOND YEAR AND $2.00 PER SHARE DURING THE THIRD YEAR. IN CONSIDERATION OF ARRANGING THE ISSUANCE OF THE DEBENTURE, THE COMPANY PROPOSES TO PAY A FINDER'S FEE IN CASH IN THE AMOUNT OF 10% CASH OF GROSS PROCEEDS RAISED FROM THE ISSUANCE OF THE DEBENTURES. THE PROCEEDS OF THE FINANCING WILL BE APPLIED TO THE GRANICOR JOINT VENTURE AND GENERAL WORKING CAPITAL. THE PRIVATE PLACEMENT IS SUBJECT TO REGULATORY APPROVAL. TEL: (604) 718-2878 GILBERT KANG, PRESIDENT FAX: (604) 718-2879 ______________________________________ (C) CORPORATE DISSEMINATION SERVICES INC. ALL RIGHTS RESERVED. .... also in case you haven't checked,there were 42.5K shares shorted as of the 15th of july....