Akiko Gold financing Utah project.VANCOUVER--(BUSINESS WIRE)--May 25, 1995--Akiko Gold Resources Ltd. has secured commitments for a private placement of 200,000 units at US $5.00 each, for total proceeds of US $1,000,000. Each unit consists of one share of Chief Consolidated Mining Co. (previously issued to Akiko) and three units of Akiko (each consisting of one common share and one warrant to purchase one additional common share exercisable for two years at a price of Cdn $0.45 until August 15, 1995, Cdn $0.55 until May 24, 1996 and Cdn $0.70 until May 24, 1997). The proceeds of this financing will be used to fund ongoing reserve expansion drilling and pre-feasibility works at the Tintic, Utah project, where Akiko is earning a 50% joint venture interest and the right to be operator of the high grade silver/lead/zinc New Burgin Burgin can refer to: People
Burgin' Deposit (including recent indications of a gold zone). In addition, with this US $1 million funding, Akiko will also receive another 250,000 shares of the stock of NASDAQ-traded, Chief Consolidated, the property owner. Akiko is pleased to have secured these commitments with minimum dilution Dilution A reduction in earnings per share of common stock that occurs through the issuance of additional shares or the conversion of convertible securities. Notes: Adding to the number of shares outstanding reduces the value of holdings of existing shareholders. to its existing shareholders. This financing is subject to approval by the Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). . -0- On Behalf of the Board of Directors Stephen Stephen, 1097?–1154, king of England (1135–54). The son of Stephen, count of Blois and Chartres, and Adela, daughter of William I of England, he was brought up by his uncle, Henry I of England, who presented him with estates in England and France and E. Flechner President & Chief Executive Officer CONTACT: Akiko Gold Resources Ltd., Vancouver Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. Christine Reynolds, 604/689-0988 |
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