Blue Ribbon Resources Private Placement.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , B.C.--(BUSINESS WIRE)--July 2, 1997--Blue Ribbon Resource (VSE See DOS/VSE. VSE - Virtual Storage Extended :BLO BLO Below BLO Blower BLO Boston Lyric Opera BLO Barbie Liberation Organization BLO Back Loop Only (crochet instructions) BLO Boiled Linseed Oil (finishing oil applied to wood and metal) .) The company is pleased to announce that it will be proceeding with a private placement of up to 4,000,000 units at a price of $0.15 per unit. Each unit shall consist of one common share in the capital of the company and one non-transferable share purchase warrant, which warrant is exercisable for a 12 month period, for 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). of $600,000.00. Each warrant will entitle en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: the holder thereof to purchase one additional common share in the capital stock of the company at a price of $0.15 per 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. may be payable. The net proceeds from this financing will be used for working capital and for work on its Suriname properties. The company also announces that Mr. John J. (Jack) DiMarchi has resigned as president of the company and is pleased to announce that Mr. Doug Williamson, a current director of the company, has been appointed as president and chief executive officer. Mr. Williamson is well equipped to assume this position as he has had extensive experience working with public companies and the responsibility that goes with such a position. The company has appointed Mr. DiMarchi as chairman to the board. The company wishes to acknowledge the tremendous and significant difference Mr. DiMarchi's efforts have made in the field and he will continue to work closely with our exploration program in Suriname. The company also reports that its interest in the Lawa and Oelemari concessions in Suriname are currently being contested. The company is in the process of making an application to the Government of Suriname to acquire an interest directly in these concessions. This Press Release was prepared on behalf of the Board of Directors which accepts full responsibility for its contents. -0- The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. CONTACT: Martyn Element & Associates Martyn Element, 604/687-6820 or 800/505-5655 Fax: 604/687-6328 http://www.info-mine.com/blue-ribbon/ E-mail: element@info-mine.com |
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