Asia Pacific Resources Ltd. Announces Private Placement Of $6,240,000 Arranged.VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 5, 1999-- Asia Pacific Resources Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :APQCF) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :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) is pleased to announce that it has agreed to a private placement financing consisting of 2,400,000 units at C$2.60 per unit, to raise a total of C$ 6,240,000. Each unit will comprise one common share and one half warrant. Each warrant will have a term of two years, and one whole warrant will enable the holder to purchase one additional common share from the company for C$3.10 in Year 1, and C$3.60 in Year 2. The private placement, which is subject to the approval of the regulatory bodies, has been arranged with Rothschild Australia Golden Arrow For other uses see Golden Arrow (disambiguation) The Golden Arrow was a luxury train of the Southern Railway and later British Railways that linked London with Dover, where passengers took the ferry to Calais to join the Flèche d’Or Investors Ltd. (2 million units), and a German investment fund (400,000 units). The Golden Arrow Fund is a Perth-based resources development capital fund managed by the Rothschild Australia Group. The Rothschild Group is a leader in the global mining and resources industry worldwide and their commitment to Asia Pacific Resources Ltd. reflects their strong support and confidence in the company and its projects. Asia Pacific Resources Ltd. is presently developing the two million tonne per annum Per annum Yearly. Somboon potash mine near Udon Thani, in northeast Thailand, approximately 500 km from Bangkok. The project is being developed with the participation of Norsk Hydro Asia Pte, a subsidiary of Norsk Hydro A.S.A., which will hold a 20% interest in the project. Negotiations are on-going with a third party in respect of a further 20% participation, with Asia Pacific maintaining a 60% position. Asia Pacific will maintain a 100% interest in the larger Udon u·don n. A thick Japanese noodle made with wheat flour, usually served in soup or broth. [Japanese, wheat noodle.] potash deposit to the north of the Somboon deposit. The company is advancing with project permitting issues, the development of project debt and equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. and selection of an EPC (1) (Entertainment PC) See HTPC. (2) (Electronic Product Code) A standard code for RFID tags administered by EPCglobal Inc. (www.epcglobalinc.org). engineering group for the construction of the project. To ensure the timely development of the Somboon project, Asia Pacific Resources Ltd. has advanced funds on behalf of the proposed Joint Venture in respect of items such as land purchases and other project requirements. Such sums, estimated to total up to C$ 10 million are reimbursable by the joint venture when it is formally constituted. The funds raised by the present private placement will be utilized to supplement existing working capital and ensure that the company has adequate financing in hand to meet all projected expenditures in connection with its portion of development costs, including all permits and licenses required for the project. Upon reimbursement of funds by the joint venture, Asia Pacific proposes to commission a "bankable bank·a·ble adj. 1. Acceptable to or at a bank: bankable funds. 2. Guaranteed to bring profit: a bankable movie star. level" feasibility study for a second major potash mine to be located at the Udon deposit, to the north of Somboon. Most of the field programs have already been concluded for this study and the company believes, based upon industry projections for regional potash demand, such a facility may be warranted within four to five years of the commissioning of the Somboon project. Gerald D. Wright, Chief Executive Officer and Co-chairman Asia Pacific Resources Ltd. |
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