Asia Pacific Resources Announces Private Placement of $2.2 million.Business Editors TORONTO--(BUSINESS WIRE)--Jan. 27, 2003 Asia Pacific Resources Ltd. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :APQCF) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :APQ APQ Accordo di Programma Quadro APQ Association des Paraplégiques du Québec APQ Association des Pathologistes du Québec APQ Art Pepper Quartet (jazz group) APQ Armaments Planning Questionnaire APQ Advanced Placement Question ) (FRANKFURT:APQ) announces that it has agreed the terms of a non-brokered private placement to a Canadian financial institution of 21,751,896 million common shares at a subscription price of $0.10 per share, for gross proceeds of approximately $2,175,190. Upon completion of this private placement, Asia Pacific Resources will have 463,976,898 common shares issued and outstanding. Completion of the private placement is subject to regulatory approval. "The proceeds of this private placement will be used in support of finalizing our application for a Mining Lease in respect of our Udon u·don n. A thick Japanese noodle made with wheat flour, usually served in soup or broth. [Japanese, wheat noodle.] mining project in northern Thailand, and the balance for general corporate purposes," said John Bovard, President and Chief Executive Officer of Asia Pacific Resources. "With the recent amendments to the Thai Mining Act now in force, securing the required development approvals from the Thai authorities will be a key next step in this important project," concluded Mr. Bovard. About Asia Pacific Resources Asia Pacific Resources has identified two large potash deposits, the Udon North and Udon South deposits near Udon Thani in northeast Thailand. In September 1998, the Company completed a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. on the South deposit, which ranks among the highest-grade potash resources in the world. A new study is currently being reviewed and optimized, so that the project's future development will be able to capitalize fully on the inherent competitive strengths of the resource, as well as its location close to the growing potash markets of Asia. The Company's shares are listed on the TSX, as well as the Frankfurt and Stuttgart Stock Exchanges under the symbol APQ and on the OTCBB OTCBB See OTC Bulletin Board (OTCBB). under the symbol APQCF. The information provided in this news release may contain forward looking statements within the meaning of the Safe Harbour provisions of the US Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are based on Asia Pacific Resources Ltd.'s current expectations and beliefs and are subject to a number of risks and uncertainty that can cause actual results to differ materially from those described in the forward looking statements. |
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