Ashton Closes $15 Million Offering.Business Editors VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , British Columbia--(BUSINESS WIRE)--Nov. 21, 2003 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. (the "Corporation"), is pleased to announce that the Corporation has closed the two private placements announced on October 28 and 29, 2003. Pursuant to these transactions, the Corporation has issued a total of 8,000,000 Units at a price of $1.50 per Unit and 1,714,285 flow-through common shares at a price of $1.75 per share for cumulative gross proceeds of $15 million. Each Unit will consist of one common share and one half Warrant. Each 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 holder to acquire one common share of the Corporation for $1.80 no later than November 20, 2005. Dundee Securities Corporation and BMO Nesbitt Burns  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . Inc. acted as agents for the brokered private placement. Ashton has paid the agents a cash commission equal to 6.5% of the proceeds from the sale of 4,666,667 of Units and 5% of the proceeds from the sale of the flow-through common shares. Ashton has also issued 326,666 broker warrants to the agents. Each broker warrant entitles the agents to acquire one common share of the Corporation for $1.80 no later than November 20, 2005. QIT-Fer et Titane Inc. ("QIT QIT Quantum Information Theory QIT Quality Improvement Team QIT Queensland Institute of Technology (formerly Queensland University of Technology) QIT Quebec Iron & Titanium (Canada mining company) "), a member company of the Rio Tinto group Rio Tinto is a multinational mining and resources group founded originally in 1873. The group is one of the world's largest mining companies, with a pre-tax profit of approximately 10.2 billion US dollars in 2006 on consolidated turnover of 25.4 billion USD. , has subscribed for 3,333,333 Units under the non-brokered private placement. As a result, QIT holds 6,190,475 of the 40,038,696 common shares of the Corporation that are now beneficially owned by the Rio Tinto group. This figure represents approximately 58.6 percent of the 68,267,425 common shares that are currently issued and outstanding. |
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