Canuc announces financing discussions continue on proposed joint venture.TORONTO--(BUSINESS WIRE)--April 30, 1997--Canuc Resources Corp (CANADIAN DEALING NETWORK Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. : CANC CANC Cancelled CANC Cairo Air Navigation Center CANC Catholic Apostolic National Church CANC Cambodian-American Network Coalition .) Canuc Resources Corporation announced today that it has entered into an engagement letter with Canaccord Capital Corporation under which Canaccord will act as fiscal advisor of Canuc in respect of a private placement of up to 2,272,728 Units at a price of $ 1.10 each for total proceeds of $2,500,000. Each Unit will consist of one Common Share and one-half of one Share Purchase Warrant of Canuc. Each full 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 purchase one Common Share of Canuc at a price of $1.40 per share at any time during the two year period following closing. Proceeds of this financing will be applied primarily to the further development of Canuc's gold property in Ecuador Ecuador (ĕk`wədôr) [Span., = equator], officially Republic of Ecuador, republic (2005 est. pop. 13,364,000), 109,483 sq mi (283,561 sq km), W South America. . Closing of the private placement is expected to be completed by May 2, 1997. Canaccord will receive a fee of 6 percent of the proceeds received by Canuc from the sale of the Units as well as an option to purchase up to 10 percent of the number of common shares issued under the financing at a price of $1.10 per share at any time during the period of two years following closing. The financing is subject to receipt of any applicable regulatory approvals. On April 7, 1997, Canuc announced that the main business terms of a joint venture were negotiated with one of Canada's premier mining companies. Discussions are continuing with a view to successful completion of a formal agreement. The common shares of Canuc are traded on Canadian Dealing Network ("CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. "). CONTACT: Canuc Resources Corporation Hubert Hubert may refer to:
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion