CORNUCOPIA ANNOUNCES AGREEMENT FOR BEST EFFORTS FINANCING.VANCOUVER, British Columbia--(BUSINESS WIRE)--April 10, 1996-- Cornucopia cornucopia (kôr'ny  kō`pēə), in Greek mythology, magnificent horn that filled itself with whatever meat or drink its owner requested. Resources Ltd. announces that it has entered into an agreement for a best efforts financing to raise up to approximately Cdn. $15 million by way of issue of Special Warrants. Under the terms of this offering, Cornucopia will issue a total of approximately 7,500,000 Special Warrants at Cdn. $2.00 per Special Warrant, each Special Warrant exchangeable for one unit comprised of one common share and one-half of a share purchase warrant. Each share purchase warrant will entitle the holder to purchase one additional common share at a price of Cdn. $2.75 for a period of 2 years. The funds will be used for mine construction at Cornucopia's Mineral Ridge Property, for general exploration in Africa and the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and for general working capital. The proceeds from the financing will be placed in escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. pending satisfaction of certain conditions by Cornucopia, including receipt of shareholder approval to commence mine construction in respect of its Mineral Ridge Property from the U.S. Bureau of Land Management by July 31, 1996 (subject to extension in the event the Bureau of Land Management is closed for budgetary or fiscal reasons), each Special Warrant will, on exercise, be exchangeable for one unit comprised of one common share and one share purchase warrant. If Cornucopia's shareholders do not approve this transaction or should Cornucopia not obtain a receipt for the final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. or satisfy certain other escrow release conditions prior to September 30, 1996, the purchasers of the Special Warrants will be entitled to require Cornucopia to repurchase the Special Warrants at the original issue price together with accrued interest Accrued Interest The interest that has accumulated on a bond since the last interest payment up to but not including the settlement date. There are two methods for calculating accrued interest: 1) 360-day year method, used for corporate and municipal bonds. earned thereon. Closing of this transaction will take place on or about May 8, 1996. The financing is subject to regulatory approvals. These securities have not been and will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Andrew F.B. Milligan President CONTACT: Cornucopia Resources Ltd. Investor Relations Investor relations The process by which the corporation communicates with its investors. : Richard Roy
Richard Roy is a director, actor and screenwriter. Filmography Director
1-800-436-4404 Shareholder Hotline: 1-800-558-9035 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion