Cartaway Resources Announces Rights Offering Fully Subscribed; Drilling to Commence.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , B.C.--(BUSINESS WIRE)--Aug. 26, 1997--Cartaway Resources Corp. (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 .) announces that 6,226,456 Units of the Corporation were issued for gross subscription proceeds of $1,867,937, being the maximum number of Units issuable pursuant to the successful completion of the Corporation's Rights Offering which closed on Aug. 22, 1997. Each Unit is comprised of one Common Share and one-half of one Common Share purchase warrant ("Warrant"), each whole Warrant entitling a holder to subscribe for one additional Common Share of the Corporation at a price of $.60 per Common Share on or before Aug. 22, 1998. 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 the Rights Offering, after deducting fees and expenses, will be added to the general funds of Cartaway and used for working capital, including exploration, drilling, property administration and related costs of its work programs. Camps are established and crews have begun a program of sampling and reconnaissance  This article or section needs copy editing for grammar, style, cohesion, tone and/or spelling.You can assist by [ editing it] now. . Drills are located on the Cirque Property, located 85 kilometers north-northwest north-north·west n. Abbr. NNW The direction or point on the mariner's compass halfway between due north and northwest, or 22°30  west of due north.adj. of the Voisey's Bay deposit, and the BR-E property located 90 kilometers due south of the deposit. Management anticipates drilling to begin the first week of September. A detailed program of stripping and systematic sampling of stones has begun on the sapphire prospect in Southern Labrador. For further information contact Sterling Pacific Capital Inc. toll free at 800/663-0510 or locally at 604/669-2701; Fax at 604-687-1405. -0- The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. CONTACT: Sterling Pacific Capital Inc. Don Flahiff, 604/669-2701 or 800/663-0510 Fax: 604/687-1405 E-mail: spc@helix Helix - A hardware description language from Silvar-Lisco. .net http://www.sterlingpac.com or Sterling Pacific Capital Inc. John Lando, 604/669-2701 or 800/663-0510 Fax: 604/687-1405 E-mail: spc@helix.net http://www.sterlingpac.com |
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