Antares Mining and Exploration Corp. - Company Update.TORONTO--(BUSINESS WIRE)--Oct. 1, 1996--Antares Mining and Exploration Corp. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : ANZ ANZ Australia and New Zealand ANZ Australia and New Zealand Banking Group Limited ANZ Air New Zealand (NZ national airline) .)-- Antares Senior Management Change Antares is pleased to announce that Mr. Anthony D. de Werth has been appointed President and Chief Executive Officer of Antares. Mr. Dennis Gray Dennis Gray was born 1935 in Yorkshire and started climbing when he was 11, after seeing the great Arthur Dolphin in action at Cow and Calf rocks on Ilkley Moor. He then climbed with a group who called themselves the 'Bradford Lads'. , a founder of Antares, previously served both as Chairman and President and will continue as non-executive Chairman in addition to assuming the responsibility of Technical Director. Mr. de Werth brings to Antares experience gained from a long and distinguished career at senior operating levels in the Canadian financial services industry, including tenure as Division Director, Private Client Division, Merrill Lynch Canada Inc. and as Chairman, Wood Gundy Private Client Investments Inc. Mr. de Werth has also joined Antares' Board. Antares Exercises Option to Increase Interest in RAPPA Antares is also pleased to announce that it has increased its beneficial ownership interest in RAPPA Holdings (Proprietary) Limited ("RAPPA") to 24.75 percent from 12.5 percent by exercising an option available from Standard Corporate and Merchant Bank ("SCMB SCMB Standard Corporate and Merchant Bank SCMB St. Cloud Municipal Band (Saint Cloud, MN) ") to acquire an additional 12.25 percent of RAPPA for approximately $1.25 million. SCMB is a division of The Standard Bank of South Africa Limited The Standard Bank of South Africa Limited (Afrikaans: Standaard Bank van Suid-Afrika Beperk) is a trading bank in South Africa, which issued banknotes in Rhodesia, South Africa, and South West Africa. External link
Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. from a variety of host materials including conventional ore, wood chips, spent carbon and electronic scrap. Financing to exercise the aforementioned option was provided from a private placement of $1.375 million of Antares Convertible Debentures issued at 91 percent of par to yield 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 $1.25 million. CONTACT: Antares Mining and Exploration Corporation Anthony D. de Werth, 416/861-9940 416/861-0057 (FAX) or Antares Mining and Exploration Corporation Robert Yeoman, 416/861-9940 416/861-0057 (FAX) |
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