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Post by Franko10 ™ on Oct 15, 2005 9:20:46 GMT -5
Mountain Province Mining — Special warrant and flow-through special warrant financing closes
VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 11, 1996--Mountain Province Mining Inc. (the "company") is pleased to announce the closing of the first tranche of a special warrant financing previously announced on Sept. 16, 1996.
Eagle & Partners Inc. (the "agent") acted as the agent for the company in connection with the private placement of a total of 2,675,000 special warrants at a price of CDN$4.90 per special warrant for gross proceeds of CDN$13,107,500.
Each special warrant will be exercisable, without payment of any additional consideration, into one unit consisting of one common share and one half of one non-transferable common share purchase warrant.
Each whole share purchase warrant entitles the holder to acquire one additional common share of the company at a price of CDN$5.75 until Dec. 31, 1997. The common shares issuable upon exercise of 1,025,000 of the special warrants will be designated as "flow-through shares" for Canadian income tax purposes.
The company will use the net proceeds of the financing to fund the underground bulk sample of the 5034 pipe on the company's AK property in the Northwest Territories and for additional exploration on the CK and CJ properties.
The securities which comprise this private placement were not offered or sold in the United States and have not been registered under the United States Securities Act of 1933. This news release does not constituent an offer to sell or the solicitation of an offer to buy these securities in the United States.
CONTACT: Mountain Province Mining Inc.
Jan Vandersande, 909/466-1411
or
A.B. Korelin & Associates Inc.
Alexander B. Korelin, 360/696-0990
Web Site: www.stockgroup.com/mpv.html
COPYRIGHT 1996 Business Wire
VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 11, 1996--Mountain Province Mining Inc. (the "company") is pleased to announce the closing of the first tranche of a special warrant financing previously announced on Sept. 16, 1996.
Eagle & Partners Inc. (the "agent") acted as the agent for the company in connection with the private placement of a total of 2,675,000 special warrants at a price of CDN$4.90 per special warrant for gross proceeds of CDN$13,107,500.
Each special warrant will be exercisable, without payment of any additional consideration, into one unit consisting of one common share and one half of one non-transferable common share purchase warrant.
Each whole share purchase warrant entitles the holder to acquire one additional common share of the company at a price of CDN$5.75 until Dec. 31, 1997. The common shares issuable upon exercise of 1,025,000 of the special warrants will be designated as "flow-through shares" for Canadian income tax purposes.
The company will use the net proceeds of the financing to fund the underground bulk sample of the 5034 pipe on the company's AK property in the Northwest Territories and for additional exploration on the CK and CJ properties.
The securities which comprise this private placement were not offered or sold in the United States and have not been registered under the United States Securities Act of 1933. This news release does not constituent an offer to sell or the solicitation of an offer to buy these securities in the United States.
CONTACT: Mountain Province Mining Inc.
Jan Vandersande, 909/466-1411
or
A.B. Korelin & Associates Inc.
Alexander B. Korelin, 360/696-0990
Web Site: www.stockgroup.com/mpv.html
COPYRIGHT 1996 Business Wire
