Key points
- The Ontario Securities Commission and BC Securities Commission issued a receipt for a final prospectus qualifying 2,000,000 common shares and 1,000,000 warrants.
- The shares and warrants will be issued to holders of 2,000,000 special warrants issued in a private placement completed June 26, 1996.
- Each whole warrant entitles the holder to purchase one additional common share at $11 until June 26, 1997.
- The company raised $17 million from the sale of special warrants, with net proceeds of approximately $16,040,000 after offering costs.
The company has been issued a receipt by the Ontario Securities Commission and the BC Securities Commission for a final prospectus qualifying for distribution 2,000,000 common shares and 1,000,000 warrants to purchase common shares. The common shares and warrants qualified by the prospectus will be issued to the holders of 2,000,000 special warrants which were issued upon completion of a private placement on June 26 1996. Each whole warrant entitles a holder to purchase one additional common share until June 26 1997 at $11. The receipt of the final prospectus completes the special warrants offering commenced in June 1996.
The company raised $17 million from the sale of special warrants (net proceeds were approximately $16,040,000 after deducting the cost of the offering).
