American Bullion Minerals -- $3 million financing closed.VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 25, 1995-- American Bullion Minerals Ltd. (VSE See DOS/VSE. VSE - Virtual Storage Extended :ABP 1. (networking) ABP - Alternating bit protocol. 2. ABP - Microsoft Address Book Provider. ) announced that the special warrants offering carried out by Deutsche Bank Deutsche Bank AG (IPA: /'dɔɪ.tʃə/[1]) (ISIN: DE0005140008, NYSE: DB) (English: German Bank Securities Canada Ltd. as agent closed Sept. 22, 1995. The offering was fully subscribed Fully Subscribed A situation in which an underwriting firm has successfully sold to investors all of its available issues of a public offering of securities. When the issue is fully subscribed, the underwriter's risk of being undersubscribed (being unable to sell its allotment of and resulted in the issuance of 1 million special warrants at $3 per special warrant for gross proceeds of $3 million. Of this amount, $1.5 million has been placed in escrow. The escrowed funds will be released upon filing of a final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. by the company in Ontario, British Columbia and Alberta (the final prospectus) to qualify the issuance of the underlying common shares on exchange of the special warrants. Each special warrant will be exchangeable for one common share in the capital of the company, if the receipt for the final prospectus is issued on or before Jan. 31, 1996; or 1.1 common shares if the company does not obtain such receipt by that date. A commission of 7 percent payable to Deutsche Bank Securities Canada Ltd. as agent was paid in the amount of $210,000. In addition, an agent's special warrant, exchangeable for an agent's warrant exercisable into up to 100,000 additional common shares at an exercise price of $3 per share to March 22, 1997, was also issued to the agent. Of the proceeds of the special warrants financing, $1.5 million will be directed to the company's Red Chris Project to complete the 1995 drilling program currently underway, $500,000 will be reserved for Red Chris work plan contingencies and $1 million will be added to the company's general working capital. American Bullion Minerals Symbol - ABP (VSE senior board) Shares Outstanding 10.2 million Fully Diluted 13.2 million Trading Range Trading Range The spread between the high and low prices traded during a period of time. Notes: When a stock breaks through or falls below its trading range after several days of trading in a range, it usually means there is momentum (positive or negative) building. (September) $ 3.25 - 4.10 (Cdn) -0- NOTE: 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). has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. CONTACT: American Bullion Minerals Ltd., Vancouver Wayne J. Roberts, 604/687-4951 604/687-4991 |
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