Cathedral Gold - $1,275,000 Private Placement Financing Completed.
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. , British Columbia--(BUSINESS WIRE)--Aug. 28, 1996-- Cathedral Gold Corporation (CAT-TSE) announces that it has completed its private placement of 500,000 Units at the price of Cdn$2.55 per Unit to raise proceeds of Cdn$1,275,000.
Each Unit entitles the holder to receive one Common Share and one Share Purchase Warrant at no additional cost. One 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 the Company at Cdn$3.00 until August 28, 1997.
The net proceeds Net Proceeds
The amount received after all costs are deducted from the sale of a piece of property or security.
In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). received by Cathedral from the sale of the units will be used principally for further exploration and drilling on the Company's Lady Property in Honduras and the Kaburi-Eldorado Project in Guyana. A 4 percent commission on the gross proceeds was paid to First Marathon Securities Limited.
R. Michael Jones Mike or Michael Jones may refer to:
CONTACT: Cathedral Gold Corporation
R. Michael Jones