Canabrava Closes $300,000 Private Placement.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--Dec. 29, 2000 Canabrava Diamond Corporation (CDNX CDNX See Canadian Venture Exchange (CDNX). :CNB CNB Czech National Bank CNB Centro Nacional de Biotecnologia CNB City National Bank CNB Citizens National Bank CNB Croatian National Bank CNB Chloronitrobenzene CNB Corresponsales No Bancarios (Spanish, Colombia) .) ("Canabrava") announced today that it has closed a second private placement of 750,000 Series B Units at $0.40 each for gross proceeds of $300,000. Each Series B Unit consists of one flow-through common share with a four month hold period and one-half of a flow-through common share purchase warrant. Each whole flow-through share purchase 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 to buy one flow-through common share for $0.50 within 12 months of closing. Strand Strand, street in London, England, roughly parallel with the Thames River, running from the Temple to Trafalgar Square. It is a street of law courts, hotels, theaters, and office buildings and is the main artery between the City and the West End. 1. Securities Corporation assisted Canabrava with the sale of Series B Units and will receive 60,000 Series B Units as compensation. Combined gross proceeds of $2,300,000, being $300,000 from the sale of 750,000 Series B Units and $2.0 million from the sale of 5,000,000 Series A Units (which closed on December 27, 2000), will be used for ongoing exploration and development programs in Canada and for working capital. Canabrava Diamond Corporation is actively exploring for diamonds in Brazil and Canada both independently and through major joint ventures with Kennecott Canada Exploration Inc., SouthernEra Resources Limited and Navigator See Netscape Navigator, Netscape and Norton Navigator. Navigator - Netscape Navigator Exploration Corp. The Company is 52.5% owned by Southwestern Gold Corporation. The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion