Central Asia Completes $14 Million Financing in Subsidiary Company.TORONTO--(BUSINESS WIRE)--Oct. 7, 1996-- (ME CGZ. CGZ.PR.A. ) Central Asia Goldfields n. 1. A small slender woolly annual (Lasthenia chrysostoma) with very narrow opposite leaves and branches bearing solitary golden-yellow flower heads; it grows from Southwestern Oregon to Baja California and Arizona; - it is often cultivated. Corporation is pleased to announce that its offering of up to $14 million in units of its subsidiary company, 1173458 Ontario Limited ("Ontco"), has been fully subscribed Fully Subscribed A situation in which an underwriting firm has successfully sold to investors all of its available issues of a public offering of securities. When the issue is fully subscribed, the underwriter's risk of being undersubscribed (being unable to sell its allotment of and closed today. This financing was completed through its agent under this offering, Griffiths McBurney and Partners. Under the private placement, 8,000,000 units were sold at $1.75 per unit, each unit consisting of one common share and one common share purchase warrant exercisable for a two-year period at $2.00. The funds raised will be used to provide working capital for three gold mines located in its Stepnogorsk region of north central Kazakstan. Ontco and Edomar Resources Inc. have agreed to amalgamate and continue as one public corporation under the name of Kazakstan Goldfields Corporation. The filing of the articles of amalgamation amalgamation /amal·ga·ma·tion/ (ah-mal´gah-ma´shun) trituration (3). amalgamation ( is expected to be completed on or about October 9th with a subsequent quotation QUOTATION, practice. The allegation of some authority or case, or passage of some law, in support of a position which it is desired to establish. 2. Quotations when properly made, assist the reader, but when misplaced, they are inconvenient. of the new company's common shares on the 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. under the symbol KGFC to commence shortly thereafter. Prior to commencement of trading, a press release detailing the current activities of KGFC will be released. CONTACT: Central Asia Goldfields Corporation Ken Webb, 416/867-2936 www.griffisint.com for corporate information |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion