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Gold/Mining/Energy : Lexacal Investment Corp (LIC-A) -- Ignore unavailable to you. Want to Upgrade?

To: Ronald W.Millar who wrote (25)	5/12/1999 9:20:00 AM
From: Shire	Read Replies (1) \| Respond to of 48

This copied from the ASE listed company page. Anyone know what the new business will be?? Source CANADA STOCKWATCH Date 05/11/99 Company LEXACAL INVESTMENT CORP. Title Lexacal plans $600,000 private placement Lexacal plans $600,000 private placement Lexacal Investment Corp LIC Shares issued 4,661,976 May 10 close $0.75 Tue 11 May 99 News Release Mr. Robert Chase reports The company gives notice that pursuant to the Alberta Stock Exchange circular No. 6, it has made application to the Alberta Stock Exchange seeking price protection to effect a non-brokered private placement of up to 1.5 million common shares at 40 cents per share. In addition, it is proposed that the private placement include an equal number of warrants which will be exercisable at 40 cents per share during the first year and at 50 cents per share during the second year, after which time the warrants will expire. The proceeds will be added to the company's current cash resources in order to attain a cash balance of a minimum $3.25-million which is projected to be the threshold amount at which a new business activity will be implemented. The proposed placements will in part be at non-arm's-length to existing directors. The proposed placements are subject to regulatory approval.