Ashton Announces $2.3 Million Private Placement.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Robert T. Boyd, President 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. of Ashton Mining of Canada Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :ACA ACA - Application Control Architecture ) ("Ashton" or the "Corporation"), is pleased to announce that the Corporation intends to raise up to $2.3 million by offering a maximum of 2,000,000 flow-through common shares at a price of $1.15 each. Dundee Securities Corporation will act as agent for the offering and is entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to place an additional 500,000 flow-through common shares at any time before the transaction closes. The offering will be conducted on a best efforts basis and is expected to close not later than December 6, 2004. Ashton has agreed to pay the agent a cash fee equal to five percent of the gross proceeds of the offering. In addition, the agent will receive broker warrants exercisable for common shares of the Corporation equal in number to five percent of the number of flow-through common shares sold. Each broker warrant will entitle en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: the agent to purchase one common share of the Corporation at a price of $1.30 for a period of 18 months after the offering closes. The flow-through common shares to be issued under this offering will be sold on a private placement basis and will not be qualified by a prospectus. As a result, they will be subject to the applicable statutory hold periods. The offering is subject to a number of conditions including the execution of formal documentation and receipt of the applicable regulatory approvals. Ashton will utilize the proceeds of the offering to support the Corporation's diamond exploration projects in Quebec and elsewhere in Canada. Ashton's prime objective is the discovery or acquisition of diamond prospects capable of rapid advancement to development and production. Ashton has positioned itself among the leading explorers in the Canadian diamond industry. Its key competitive advantages include significant exploration experience and its in-house processing and laboratory facilities in North Vancouver North Vancouver, city (1991 pop. 38,436), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver, of which it is a suburb. Shipbuilding, woodworking, and the shipping of grain, lumber, and ore are the chief industries. dedicated exclusively to Ashton's exploration projects. |
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