Canabrava Diamond Corp. And Southwestern Gold Corp. Announce Private Placement Of Units.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--March 20, 2000 Canabrava(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) ) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :SWG SWG abbr. standard wire gauge .) Canabrava Diamond Corp. (CNB-V) announces that it has agreed to sell on a private placement basis 1,000,000 units in the capital stock of the company at a price of $1.75 per unit, 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 $1,645,000. Each unit will consist of one common share and one-half of a non-transferrable share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional common share of the Company at any time over a two year period at a price of $2.25 per share. The Company has retained Haywood Securities Inc. to act as its agent. The private placement is subject to regulatory approval. Southwestern Gold Corp. (SWG-T) ("Southwestern Gold") will be the private placee and purchase the 1,000,000 units from the company. Southwestern Gold currently owns 54.2% of the outstanding shares of the company. In a separate transaction, Southwestern Gold sold through the facilities of 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) 1,000,000 free trading shares of the company so that its net shareholdings in the company will effectively remain unaltered at 19,980,550 shares. Canabrava Diamond Corp. is actively exploring for diamonds in Brazil and Canada both independently and through major joint ventures with Kennecott Canada Exploration Inc., SouthernEra Resources Limited, Paramount Ventures and Finance Inc. and Navigator Exploration Inc. Southwestern Gold Corp. presently has more than 22 joint ventures with companies including Newmont, PanAmerican Silver, Teck, Pasminco, Paramount Ventures, Southern Peru Copper, Asarco, Cambior and Cedimin. Rory O. Moore, President Canabrava Diamond Corp. |
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