Cartaway Issues Private Placement.CALGARY, ALBERTA--(BUSINESS WIRE)--September 15, 1995--CARTAWAY CONTAINER (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :CWA CWA Clean Water Act (33 USC) CWA Communications Workers of America CWA Concerned Women for America CWA CEN Workshop Agreement (European pre-normative document) CWA County Warning Area CWA Clean Water Action ) Cartaway Container Corporation ("Cartaway") announced today that it has agreed to issue 2,000,000 Special Warrants by way of private placement through a syndicate led by Maison Placements Canada Inc. The Special Warrants will be issued at a price of $2.00 and 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 upon exercise, for no additional consideration, to one unit consisting of one Common Share of Cartaway and one-half of a Common Share purchase warrant with each whole Common Share purchase warrant entitling the holder to purchase one Common Share at a price of $2.50 during the first year, and a price of $2.75 during the second year, following completion of the private placement. The private placement is expected to be completed on October 17, 1995. The 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 this offering will be used for exploration on Cartaway's Voisey Bay properties. Cartaway has an interest in approximately 29,000 claims in Labrador and is in the middle of an exploration program. To date, Cartaway has flown approximately 6,000 line kilometres and developed approximately 20 drill targets. In addition, Cartaway is earning a 50% interest in a 4,500 square kilometre Square kilometre (U.S. spelling: square kilometer), symbol km², is a decimal multiple of the SI unit of surface area, the square metre, one of the SI derived units. 1 km² is equal to:
. -0- NOTE TO EDITORS: The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. CONTACT: Don Flahiff, 800/663-0510 |
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