American Gem Corporation proposes to complete private placement.TORONTO--(BUSINESS WIRE)--Dec. 3, 1996--America Gem Corporation (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) announces that it proposes to complete a private placement of units, each unit consisting of one common share and one-half common share purchase warrant. American Gem has retained IBK IBK see infectious bovine keratoconjunctivitis. Capital Corp., a Toronto based investment banking firm, to act and its agent in connection with a proposed private offering of up to 5,333,333 units at a price of Cdn, $1.50 per unit. The units will be offered to institutional investors in Europe, Canada, the United States and elsewhere. The net proceeds of the issue will be used by American Gem to finance inventories of cut sapphire from production in the United States and Australia. Completion of the private placement is subject to regulatory approval. The common shares of American Gem Corporation are listed on The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and 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). . CONTACT: American Gem Corp., Toronto Gregory Dahl, 406/442-4000 Telecopier 406/442-4096 |
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