CALEDONIA MINING CORPORATION ANNOUNCES PARTIAL CLOSING ON FINANCING.TORONTO, Ontario--(BUSINESS WIRE)--Dec. 19, 1994-- CALEDONIA MINING CORPORATION (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CAL; NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CALVF) is pleased to announce a partial closing on the private placement of Unsecured Unsecured A loan or equity interest that is given without any guarantee of payment, performance, satisfaction or opportunity for return from the recipient. No property, interest or security is used as collateral in either a guarantee or a pledge. Convertible Debentures Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. with subscribers resident in Canada and Europe. To date, $17.3 million of the planned placement of approximately $20.6 million of Debentures has been completed. It is anticipated that the balance of the funds will be placed prior to January 12, 1995. The Debentures have a term of 5 years, earn interest at a rate of 4% p.a. and are convertible by the holder at anytime into common shares of Caledonia at a price of $11 1/8 per share. The Debentures can be compulsorily converted into common shares in the fourth and fifth years in the event that Caledonia's common shares trade for 30 consecutive days at prices more than 50% above the conversion price. The proceeds will be used to expand Caledonia's mining operations in Spain and Hungary, to conduct diamond, gold and base metal exploration programmes in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe and Africa and to fund acquisitions in the mining industry. CONTACT: Caledonia Mining Corp., Toronto
D.S. MacLeod, chairman, 905/564-5213
F.C. Harvey, president, 905/564-5214
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion