Avcorp Announces Private Placement.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--June 6, 2002 Avcorp Industries Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :AVP AVP arginine vasopressin. ) today announced that it has agreed to a private placement of up to 3,500,000 units at a price of $1.20. Each unit will consist of one common share and one-half of a non-transferable warrant. Each warrant will be exercisable into one common share for a period of one-year, at an exercise price of $1.30 per common share. A finder's fee Finder's fee A fee a person or company charges for service as an intermediary in a transaction. finder's fee The charge levied by a person or firm for putting together a deal. of 6% will be payable on a portion of the proceeds. The proceeds of up to $4,120,800 on closing, and up to $6,352,000 with all warrants being exercised, will be used to repay indebtedness, for general working capital and for investment purposes. The transaction contemplated herein is in accordance with the rules and policies of the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and is subject to regulatory approval. Avcorp Industries Inc. is a Canadian aerospace industry manufacturer. The Company is a single-source supplier for design, machining, fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. and assembly of metal, composite and plastic components for global aerospace markets and comprises of two divisions: Aerostructures Division in British Columbia and the Integrated Products Division in Quebec. JOHN H. NICHOLSON President and Chief Executive Officer |
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