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Gold/Mining/Energy : First Telecom FTL-VSE -- Ignore unavailable to you. Want to Upgrade?

To: Veteran98 who wrote (20)	3/6/1999 3:29:00 PM
From: Jesse	Read Replies (1) \| Respond to of 127

First Telecom to sell two million warrants through Global First Telecom Corp FTL Shares issued 2,366,686 1999-02-11 close $0.85 Friday Mar 5 1999 Mr. Richard Liu reports Further to news in Stockwatch Jan. 27, 1999, Global Securities Corporation will act as agent in the company's private placement of two million special warrants at 25 cents for $500,000. Each special warrant is exercisable, without additional consideration, into one unit consisting of one share and one two-year warrant, exercisable for one additional share at 25 cents in the first year and 30 cents in the second. The agent will receive a commission of 9 per cent and warrants to purchase 200,000 shares at 25 cents in the first year and 30 cents in the second. The proceeds will be used to purchase a $500,000 convertible debenture from Vancouver Telephone Company, in connection with the company's proposed acquisition of Vancouver Telephone Company. The company will use its best efforts to file an annual information form with the British Columbia Securities Commission. If the AIF is not filed within 120 days of closing of the private placement, the company will be subject to a 10 per cent penalty and each special warrant will convert to units which entitle the holder to 1.1 shares and 1.1 warrants. Maria S.M. Wong has been appointed as a director of the company. Ms. Wong, a chartered accountant, is vice-president finance of Macdonald Development Corporation. In addition, the company has granted stock options to directors and employees to acquire up to 286,000 shares at 43 cents to March 5, 2001. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com