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Technology Stocks : Storage One...SOJ on Alberta -- Ignore unavailable to you. Want to Upgrade?

To: Buckey who wrote (161)	4/7/1999 10:29:00 PM
From: Flea	Read Replies (1) \| Respond to of 394

Storage One arranges $1,375,000 financing Storage One Inc SOJ Shares issued 25,981,400 Apr 6 close $0.61 Wed 7 Apr 99 News Release Mr. John McMahon reports Yorkton Securities Inc. has agreed to act as agent of Storage in connection with a private placement of up to 2.5 million units of Storage at 55 cents per unit for gross proceeds of $1,375,000. Each unit will consist of one share and one warrant of Storage. Each warrant shall entitle the holder to purchase one additional share of Storage at an exercise price of 61 cents per share for two years from the closing date. Yorkton will be paid a commission of 10 per cent, which may be paid by the issuance of an additional 250,000 units to Yorkton. Yorkton will also be granted an agent's option to acquire up to 250,000 units at 55 cents per unit for two years from the date of closing. Storage has reserved a price of 55 cents per share in connection with the proposed private placement of units. The completion of the private placement of units is subject to regulatory approval and final board of directors approval, and Storage is required to file a formal application with the Alberta Stock Exchange within 14 calendar days of this press release. Storage intends to use the additional capital raised pursuant to the private placement in order to make further strategic investments through "SOI Invests" in the substantial number of potential investment opportunities that have recently been made available to Storage. Storage and Yorkton anticipate the private placement of units will close within the next two weeks. Storage has also completed a private placement of 2.5 million units at 40 cents per unit for gross proceeds of $1-million. Each unit consisted of one share and one warrant of Storage (the first warrants). Each first warrant entitles the holder to purchase one additional share at 50 cents until April 6, 1999. Yorkton acted as agent in connection with the private placement and was paid a commission of 10 per cent by the issuance of an additional 250,000 units. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com