BLACK HAWK MINING INC. ANNOUNCES RIGHTS OFFERING FULLY SUBSCRIBED AND FINANCIAL RESULTS FOR 1994.TORONTO, ONTARIO--(BUSINESS WIRE)--APRIL 5, 1995--BLACK HAWK MINING INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BHK BHK Baby Hamster Kidney BHK Bukhara, Uzbekistan (Airport Code) BHK Bedroom Hall Kitchen (rental properties) BHK Bachelor of Human Kinetics (degree) BHK Brouwer-Heyting-Kolmogorov ) Black Hawk Black Hawk (born 1767, Sauk Sautenuk, Va.—died Oct. 3, 1838, village on the Des Moines River, Iowa, U.S.) Sauk Indian leader. Long antagonistic to whites, Black Hawk was driven into Iowa from Illinois in 1831. Mining Inc. reports that its Rights Offering to shareholders closed on April 4, 1995 and was fully subscribed Fully Subscribed A situation in which an underwriting firm has successfully sold to investors all of its available issues of a public offering of securities. When the issue is fully subscribed, the underwriter's risk of being undersubscribed (being unable to sell its allotment of . Proceeds from the Rights Offering, prior to expenses, total $4,789,093. Approximately $2.64 million will be used to pay the balance of the purchase price to acquire the interest of Boliden Resources Inc. in the Bald Mountain gold/copper property located in the State of Maine, U.S.$100,000 to make the lease payment for 1995 on the Bald Mountain property, $100,000 to make an option payment on the Hoyle Township gold property and $200,000 to carry out a diamond drilling program on the Hoyle Township property. The balance of the proceeds will be added to the Company's consolidated working capital. The success was due to the support evidenced by many of our existing shareholders including our major shareholder (32.2%), DCC (1) (Direct Cable Connection) A Windows 95/98 feature that allows PCs to be cabled together for data transfer. DCC actually sets up a network connection between the two machines. Equities Limited, who, through the Rights Offering, provided the Company with $1.5 million and Canaccord Capital Corporation who provided $1.1 million. Further, Black Hawk is pleased to announce a profit of $96,370 on revenues of $4.6 million for the year ended December 31, 1994 compared to a loss of $518,126 on zero revenues for the year ended December 31, 1993. This profit reflects Black Hawk's transformation from being an explorer/developer to being a producer, having attained commercial production in June, 1994 at the Keystone Joint Venture. Increased production and lower costs forecast for the Keystone Joint Venture and the commencement of production at the Redstone Mine in late 1995 should result in further improvements in financial performance for 1995. CONTACT: Gordon F. Bub President & Chief Executive Officer 416/363-2911 Ext. 226 or Rene R. Galipeau Vice President & Chief Financial Officer 416/363-2911 Ext. 224 REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion