Millstream arranges private placement
Shares issued 27,501,376
Tuesday Apr 20 1999
Mr. Ernest Harrison reports
In conjunction with Hunter Dickinson's (HDG) financial arrangement for the financing of exploration on the Potter mine property, in Northern Ontario, a private placement financing was to be arranged. HDG agreed to arrange for the purchase of 800,000 units in the capital of Millstream to provide interim working capital and others agreed to arrange the purchase of 300,000 units. The units are priced at 50 cents each and consist of a common voting share and a full warrant exercisable for two years at a price of 50 cents per share. Price protection was obtained and granted by the Canadian Dealing Network (CDN) April 12, 1999, regarding the above transactions. All the purchasers of the above units are at arm's length to the company.
In Stockwatch March 9, 1999, and March 18, 1999, Millstream reported 27,156,876 shares issued, inclusive of the 1,355,037 for the Dec. 31, 1998, flow-through financing. The correct amount of shares issued should have been 27,165,876. Recently, in consideration as commissions earned for the flow-through and the exercise of insider options a further 335,500 shares were issued for a current total shares issued of 27,501,376.
As of this date, there are warrants to purchase 1,727,519 common voting shares outstanding as follows: warrants to purchase 600,000 common voting shares at 30 cents until Oct. 31, 2002; warrants to purchase 450,000 common voting shares at 60 cents until Dec. 16, 1999; and warrants to purchase 677,519 shares at 45 cents until July 1, 2000.
As of this date, there are options, under the corporate stock option plan, to purchase 2,530,138 common voting shares outstanding as follows: options to purchase 902,500 common voting shares at 30 cents until Aug. 27, 2002; options to purchase 70,000 common voting shares at 30 cents until Dec. 16, 2002; options to purchase 100,000 common voting shares at 40 cents until Feb. 5, 2000, and Jan. 30, 2003; options to purchase 900,000 common voting shares at 25 cents until Sept. 4, 2003; and options to purchase 190,000 common voting shares at 30 cents until March 8, 2004, held by various directors, officers and employees of the company. Additional options to purchase 61,495 common voting shares at 30 cents until Dec. 16, 2002; options to purchase 16,753 common voting shares at 30 cents until March 8, 2004; options to purchase 100,000 common voting shares at 40 cents until Dec. 19, 2002; and options to 189,390 common voting shares at 70 cents until March 30, 2003, of which none have yet been allotted.
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