American Gem Corporation Announces Completion of an Equity Private Placement to Purchasers in Europe, Canada and the United States.TORONTO--(BUSINESS WIRE)--Feb. 27, 1996--AMERICAN GEM(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , VSE See DOS/VSE. VSE - Virtual Storage Extended : GEM ) American Gem Corporation announced today that it completed an equity private placement to purchasers in Europe, Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. , of $10,532,504(Cdn). The net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of this issue will be used by American Gem to develop additional gem cutting capacity, to heat treat and cut American Gem's inventory of rough sapphires into finished gemstones and for working capital. This financing has been managed on behalf of American Gem by IBK IBK see infectious bovine keratoconjunctivitis. Capital Corporation, a Toronto based Canadian investment banking firm. Ken Erickson, Director of Sales and Marketing, announced the following recent developments in American Gem's sales program: - The Letter of Agreement with one of the largest Black Hills Gold manufacturers has been finalized and requires that manufacturer to purchase a minimum of $300,000 (US) in stones from American Gem for each of the next three years. - American Gem has established the Independent Jeweler's Program to facilitate sales of the American Sapphire(TM) to independent jewelers in the USA. - Two additional major manufacturers are setting sample jewelry lines with The American Sapphire(TM) bringing the total of major manufacturers developing programs around the American Sapphire(TM) to five. American Gem Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Greg Dahl stated that American Gem had recently presented its American Sapphire(TM) to some of the world's finest World's Finest may refer to:
Dahl also noted that American Gem's cutting rate for the last 30 days (22 working days) averaged 7,215 stones per day. "That number exceeds the companies goal of 6,500 stones per day for fiscal year 1995, and clearly allows American Gem to support major sales and marketing initiatives," Dahl stated. CONTACT: American Gem Corporation Gregory Dahl, 406/442-4000 406/442-4096 (Fax) |
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