Cathedral Gold - Share Purchase Warrants Extended One Year.VANCOUVER, Bc--(BUSINESS WIRE)--Feb. 7, 1996--CATHEDRAL GOLD(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : CAT ) Cathedral Gold Corporation, has agreed to extend for one year, to February 15, 1997, the deadline for the exercise of outstanding share purchase warrants for the purchase of 1,616,000 shares at $3.55 per share. There are 3,300,000 share purchase warrants outstanding with two warrants required to purchase one common share at $3.55 per share. The company has received the approval of more than two thirds of the warrant holders as required by the warrant indenture and has received the conditional approval of The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. ("TSE") to the extension of the term of the warrants. However, all of the 68,000 warrants held by Imperial Metals Corporation ("IPM (1) (Impressions Per Minute) Generally refers to document scanners that scan both sides of the page at the same time. Thus, a scanner that scans at 100 ppm (pages per minute) can provide 200 ipm. See ppm and document scanner. ") will expire on February 15, 1996 as required by the TSE. IPM is Cathedral's major shareholder holding 5.5 million (40%) of the Company's 13.2 million shares outstanding. The extension of the term of the warrants is in the best interest of all shareholders as it may provide an efficient method of equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. for the Company should the warrants be exercised over the next year. Cathedral Gold Corporation owns 90% of the Sterling Gold Mine, Nevada, holds three exploration properties in the Battle Mountain Trend in Nevada, owns 100% of the former producing Porcher Island Porcher Island is an island in the Hecate Strait, British Columbia, Canada. It has an area of 522 km². Coordinates: Geography With an area of 200 square miles, Porcher Island gold mine, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography , and is exploring a large land position in the Kaburi District near the Omai mine, Guyana. R. Michael Jones President CONTACT: R. Michael Jones President 604/684-4659 |
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