BRASSIE CLOSES THREE PRIVATE PLACEMENTS FOR AGGREGATE CONSIDERATION OF $1,682,500.TAMPA, Fla.--(BUSINESS WIRE)--October 4, 1995--BRASSIE GOLF CORPORATION (Nasdaq Symbol: PUTT; TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). Symbol: TEE) today announced that it has closed three private placements for aggregate consideration of $1,682,500. o 500,000 units at a price of $2.00 per unit in cash, each unit consisting of one common share and one-half warrant, with each full warrant entitling the holder to purchase a further common share for five years at a price of $2.40 per share. o 200,000 units at a price of $2.00 per unit, paid by the cancellation of certain indebtedness of the Company to such purchasers, each unit consisting of one common share and one-half warrant, with each full warrant entitling the holder to purchase a further common share for three years at a price of $2.40 per share. o 125,000 common shares at $2.26 per share in cash. The net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). will be used for working capital and other corporate purposes. All amounts are stated in US dollars. Brassie Golf Corporation and its Hale Irwin Hale S. Irwin (born June 3, 1945) is an American golfer. He is the uncle of Heath Irwin. Irwin was born in Joplin, Missouri. He graduated from the University of Colorado in 1967, where he was a two-time All-Big Eight defensive back, as well as an academic All-American in Golf Design division, are engaged in the acquisition, design, construction, operation and management of private, semi-private, resort and daily-fee (i.e. "public") golf courses. Brassie's portfolio of owned and managed courses has grown to become the third largest in the industry and the second largest among U.S. publicly-held companies. The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. has neither approved nor disapproved of the contents of this press release. CONTACT: Investor Relations Investor relations The process by which the corporation communicates with its investors. Contact: Company Contact: John Nesbett/Jason Thompson Gary Nacht Lippert/Heilshorn & Associates Executive Vice President, CFO See Chief Financial Officer. (212) 838-3777 (813) 621-4653 |
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