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Gold/Mining/Energy : Winspear Resources -- Ignore unavailable to you. Want to Upgrade?

To: The Fix who wrote (8599)	10/20/1998 10:34:00 PM
From: Andrew	Respond to of 26850

Hi fix found this on Stockwatch Winspear Resources Ltd - 1,650,000 special warrants at $3.35 for flow through and $3.50 for non-flow through Winspear Resources Ltd WSP Shares issued 26,257,437 1997-03-07 close $3.95 Monday Mar 10 1997 The VSE has accepted for filing a brokered private placement of 1,650,000 special warrants (of which 50% are flow through) at $3.35 per non-flow through special warrant and $3.50 per flow through special warrant. Each non-flow through special warrant is exchangeable into one share and one-half of one non-flow through warrant. Each whole warrant will entitle the holder to purchase one additional share at $3.50 for one year. Each flow through special warrant is exchangeable into one share of the company and one-half of one flow-through warrant. Each whole warrant will entitle the holder to purchase one additional share at $3.75 for one year. The company has agreed to obtain a final receipt for a prospectus to qualify the issuance of the securities on exercise of the special warrants within 120 days of the closing of the private placement. One hundred per cent of the gross proceeds from the sale of the non-flow through special warrants will be held in escrow and released upon issuance of a final receipt for the company's prospectus. If a final receipt for the company's prospectus has not been obtained within 120 days of closing, then the holders of the non-flow through special warrants will be entitled to tender one-half of their non-flow through special warrants for repurchase with the escrow proceeds and will be entitled to receive an additional one-quarter non-flow through warrant for each non-flow through special warrant the holder continues to hold. The non-flow placees are Altamira Management (as agent for A/C 31), 225,000; Altamira Management (as agent for A/C 40) 105,000; William Martin Rae, 90,000; and 19 others. The flow through placees are Altamira Management (as agent for A/C 40), 170,000; William James Griffis, 65,000; J.T. Alexander & Assoc Holding Corp, 60,000; and 19 others. Canaccord acted as agent and will receive a cash commission equal to 7% of the gross proceeds from the sale of the special warrants. In addition, the agent will receive agent's special warrants equal to 10% of the number of common shares issued immediately following conversion of the special warrants. The agent's warrants will have the same terms and conditions as the non-flow through warrants. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)