Baja Mining Corp.: Private Placement.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Baja Mining Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:BAJ BAJ Belarusian Association of Journalists BAJ Brewers Association of Japan BAJ Bristol Aerojet (UK) ) John Greenslade, President of Baja Mining Corp. (the "Company"), is pleased to advise that it has arranged, subject to TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. approval, a private placement of 1,600,000 Units at a price of $0.75 per Unit for proceeds of $1,200,000 to Fondel Finance B.V., a private holding company owned by Willem C. van't Wout, of Rotterdam, and his family. Each Unit will consist of one common share and one-half share purchase warrant. Each whole warrant will entitle Fondel to purchase a further common share at a price of $1.15 per share. The period to exercise this warrant right will be for a minimum of 2 years (or such greater period, to a maximum of 5 years as the TSX Venture Exchange may permit). In the event the Company enters into any agreements for further third party equity placements in the immediate future at a lower issue price the current placement pricing will be reduced accordingly. A finders fee will be paid in accordance with TSX Venture Exchange policy on the placement. The Fondel Group is based in Rotterdam -The Netherlands. Fondel's core businesses lie in two key areas: (1) activities in metal trading, processing and recycling with many decades of experience); (2) shipping and stevedoring services, which is mainly handling conventional bulk cargo That which is generally shipped in volume where the transportation conveyance is the only external container; such as liquids, ore, or grain. , containers and roro cargo. Its metal activities consist of toll treating large quantities of nickel and cobalt from concentrate to metal and furthermore the Group specialises in the procurement, trade and conversion of non-ferrous metals, and special ferro alloys, including nickel, copper, cobalt, molybdenum molybdenum (məlĭb`dənəm) [Gr.,=leadlike], metallic chemical element; symbol Mo; at. no. 42; at. wt. 95.94; m.p. about 2,617°C;; b.p. about 4,612°C;; sp. gr. 10.22 at 20°C;; valence +2, +3, +4, +5, or +6. , chromium. The Fondel Group not only is a world leading metal trader but a main processor, producing various value-added products. The Company's El Boleo El Boleo was a Mexican copper mine located at the port city of Santa Rosalía, Baja California Sur. It was operated by a French company (Compagnie du Boleo) who had obtained control of the mine through an extensive concession and 50-year tax extemption granted by Mexican president Property in Baja California Sur Baja California Sur (s  r), state (1990 pop. 317,764), 27,571 sq mi (71,428 sq km), NW Mexico, on the Baja California peninsula. La Paz is the capital. , Mexico is a copper, cobalt and zinc deposit currently proceeding to completion of a Definitive Feasibility Study. The Company currently has approximately 60.2 million (74.2 million fully diluted) common shares issued and outstanding. Fondel's metal trading and processing expertise in the areas of copper, cobalt and zinc sulphate may prove of assistance as the El Boleo project moves towards a production decision. The Company looks forward to an ongoing relationship with Mr. van't Wout and the Fondel Group. On behalf of the Board of Directors John Greenslade, President The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Baja Mining Corp. (TSX VENTURE:BAJ) |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion