Antares Raises $3.5 million for Ojolali Project from Institutional and Private Investors.TORONTO--(BUSINESS WIRE)--Feb. 12, 1997--Antares wishes to announce that it has closed a transaction with CR Capital Corp., as agent, to issue 3,500,000 special warrants at CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $1.00 each to institutional and private investors to generate gross proceeds of CDN$3,500,000. Each special warrant is exchangeable into one common share of Antares. Antares has undertaken to file a prospectus within 180 days of closing to clear the common shares issued on the exercise of the special warrants. Antares is currently implementing the necessary legal steps to facilitate closing of the transaction with Coleville Resources Limited, its joint venture partner in the Ojolali property. The joint venture's Indonesian partner, P.T, Kurnia Dwipa Kencana, will be paid U.S.$1.5 million of the proceeds to secure Antares' 45% participation in the operatorship of the joint venture. The balance of the proceeds will be dedicated to an aggressive trenching, drilling and aerial geophysics program on the Ojolali property. Four of 10 known zones on the Ojolali property have been prioritized for exploration: namely Area C1, Bukit Batu Kuning, Bukit Kencur and Bukit Jambi. The first assay results obtained during Antares' technical due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. on the Ojolali property have been received from Inchcape Testing Services in Jakarta and are currently being interpreted. Antares owns a 43% interest in the producing Lady Lina gold mine in Zimbabwe as well as a current 24.75% beneficial interest in Rappa Holdings (Proprietary) Limited, a profitable and expanding gold recovery operation in South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. . Negotiations are currently underway with the objective of Antares increasing its ownership in Rappa. -0- NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN. CONTACT: Antares Mining and Exploration Corp. 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'. , Chairman & 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. or Robert Yeoman Robert David Yeoman, A.S.C., who was born on 10 March, 1951 in Philadelphia, Pennsylvania is an American cinematographer. He spent his childhood in the northern suburbs of Chicago. , Vice-President, 416/861-9940 416/861-0057 (FAX) |
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