Ashton Closes Rights Offering.VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--Sept. 25, 1997-- ASHTON MIN.(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , ME ACA ACA - Application Control Architecture .) John S. Auston, 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., is pleased to confirm that the rights offering announced August 21, 1997 successfully closed on September 24, 1997. The offering was 99.6 percent subscribed by right-holders with the balance subscribed under Additional Subscription Privileges. Ashton Mining Limited, the Company's controlling shareholder, maintained its 62 percent interest in the Company. As indicated in the Rights Offering Circular, the gross proceeds of approximately $15.7 million from this offering will be used to fund Ashton's ongoing exploration programs in North America, including the exploration of an extensive field of kimberlites discovered earlier this year in northern Alberta. Ashton is a diamond exploration company with interests in a wide range of properties in Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. . It is 62 percent-owned by Ashton Mining Limited of Australia, a leading explorer, producer and marketer of diamonds which holds an interest of 40.1 percent in the Argyle diamond mine The Argyle diamond mine () is a diamond mine located in the north-east of Western Australia. in northwestern Australia. CONTACT: Ashton Mining of Canada Inc. John S. Auston, 604/983-7750 Wayne D. Hillier, 604/983-7750 |
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