Owner
Post by Franko10 ™ on Oct 15, 2005 9:14:03 GMT -5
Special warrant financing to raise $15,067,500
ONTARIO, Calif.--(BUSINESS WIRE)--Sept. 26, 1996--Mountain Province Mining Inc. (the company) announces that it has engaged Eagle Partners Inc. of Toronto to act as its agent on a best efforts basis, for a private placement financing of up to $15,067,500.
The financing is expected to close within 30 days.
Under the terms of the engagement, the company will issue up to 3,075,000 special warrants at a price of $4.90 per special warrant. Each special warrant will be exercisable, without the payment of any additional consideration, into one unit consisting of one common share and one-half of one warrant.
Each whole warrant entitles the holder to acquire one common share at a price of $5.75 until Dec. 31, 1997. The common shares issuable in respect of 1,025,000 of the special warrants will be designated as "flow-through shares" for Canadian income tax purposes.
The company will file a prospectus in those Canadian jurisdictions in which the special warrants are sold for the purpose of qualifying the exercise of the special warrants. If the company does not obtain receipts for its final prospectus within 120 days of the closing of the private placement, each special warrant will be exercisable into 1.1 units.
The company will pay Eagle Partners a commission equal to 7 percent of the gross proceeds from the private placement. In addition, the company will grant Eagle Partners an option to acquire that number of units which is equal to 7 percent of the number of special warrants sold, at a price of $4.90 per unit until Dec. 31, 1997.
The net proceeds of the financing will be used by the company to finance the underground bulk sample of the 5034 pipe on the company's AK property in the Northwest Territories and for additional exploration on the AK/CJ properties.
These securities have not been and will not be offered and sold in the United States and have not been and will not be registered under the U.S. Securities Act of 1933. This news release does not constitute an offer to sell or the solicitation of an offer to buy these securities in the United States.
The financing is subject to securities regulatory approval.
ON BEHALF OF THE BOARD OF DIRECTORS
JAN VANDERSANDE, Ph.D.
President/Director
CONTACT: Mountain Province Mining Inc.
Vancouver, B.C., 604/687-0122
Ontario, Calif., 909/466-1411
COPYRIGHT 1996 Business Wire
ONTARIO, Calif.--(BUSINESS WIRE)--Sept. 26, 1996--Mountain Province Mining Inc. (the company) announces that it has engaged Eagle Partners Inc. of Toronto to act as its agent on a best efforts basis, for a private placement financing of up to $15,067,500.
The financing is expected to close within 30 days.
Under the terms of the engagement, the company will issue up to 3,075,000 special warrants at a price of $4.90 per special warrant. Each special warrant will be exercisable, without the payment of any additional consideration, into one unit consisting of one common share and one-half of one warrant.
Each whole warrant entitles the holder to acquire one common share at a price of $5.75 until Dec. 31, 1997. The common shares issuable in respect of 1,025,000 of the special warrants will be designated as "flow-through shares" for Canadian income tax purposes.
The company will file a prospectus in those Canadian jurisdictions in which the special warrants are sold for the purpose of qualifying the exercise of the special warrants. If the company does not obtain receipts for its final prospectus within 120 days of the closing of the private placement, each special warrant will be exercisable into 1.1 units.
The company will pay Eagle Partners a commission equal to 7 percent of the gross proceeds from the private placement. In addition, the company will grant Eagle Partners an option to acquire that number of units which is equal to 7 percent of the number of special warrants sold, at a price of $4.90 per unit until Dec. 31, 1997.
The net proceeds of the financing will be used by the company to finance the underground bulk sample of the 5034 pipe on the company's AK property in the Northwest Territories and for additional exploration on the AK/CJ properties.
These securities have not been and will not be offered and sold in the United States and have not been and will not be registered under the U.S. Securities Act of 1933. This news release does not constitute an offer to sell or the solicitation of an offer to buy these securities in the United States.
The financing is subject to securities regulatory approval.
ON BEHALF OF THE BOARD OF DIRECTORS
JAN VANDERSANDE, Ph.D.
President/Director
CONTACT: Mountain Province Mining Inc.
Vancouver, B.C., 604/687-0122
Ontario, Calif., 909/466-1411
COPYRIGHT 1996 Business Wire
