Acadian Gold Coporation Proposes 1.2 Million Financing.HALIFAX, Nova Scotia For other uses, see Halifax. Halifax, Nova Scotia may refer to any of the following:
Ada (ā`ə), city (1990 pop. 15,820), seat of Pontotoc co., S central Okla.; inc. 1904. It is a large cattle market and the center of a rich oil and ranch area. :TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE) ("Acadian Gold") announced today that it has appointed Northern Securities Inc. ("Northern") as lead agent to arrange a Cdn. $1.2 million private placement of Equity Units and Flow-Through Shares, subject to the receipt of all necessary regulatory and stock exchange approvals. Acadian Gold has agreed to issue up to $600,000 of Equity Units. Each Equity Unit will consist of one Common Share and one half of a Common Share Purchase Warrant to be issued at a price of $0.18 per Equity Unit. All whole Warrants will be exercisable into Common Shares for a period of 18 months from Closing at a price of $0.27. Acadian Gold has also agreed to issue up to $600,000 of Flow-Through Shares at $0.25 per share. The Closing is expected to occur on or before November 30, 2004. Acadian Gold has granted Northern an over-allotment option to purchase up to 10% of the number of Equity Units and Flow-Through Shares issued on Closing, at a price equal to the issue price, which may be exercised within 60 days of the Closing. In addition, Acadian Gold has the option to agree to issue an additional 15% of the number of Flow-Through Shares and Equity Units sold under the Offering. Northern will be entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to 8% commission on the gross proceeds of the Offering. The commission on management orders will be 3%, to a maximum of $200,000. In addition, Acadian Gold will issue to Northern, at Closing, Broker Warrants equal to 8% of the number of Equity Units and Flow-Through Shares sold pursuant to the Offering. Each Broker Warrant will be exercisable into one Common Share at $0.25 at any time within 18 months from Closing. The proceeds from the Flow-Through Shares will be used to further develop Acadian Gold's Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. projects in Nova Scotia Nova Scotia (nō`və skō`shə) [Lat.,=new Scotland], province (2001 pop. 908,007), 21,425 sq mi (55,491 sq km), E Canada. Geography and New Brunswick New Brunswick, province, Canada New Brunswick, province (2001 pop. 729,498), 28,345 sq mi (73,433 sq km), including 519 sq mi (1,345 sq km) of water surface, E Canada. . The proceeds from the Equity Units will be used for general corporate purposes. For additional information on Acadian Gold's properties and activities, please visit our recently updated web site at www.acadiangold.ca. If you wish to be added to Acadian Gold's email or fax distribution list for future news releases and updates, please contact us at phone: 902-444-7779, fax: 902-444-3296. Shares Outstanding: 36,878,078 The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for the adequacy or accuracy of this release. Acadian Gold Corporation (TSX VENTURE:ADA) |
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