Chesbar Resources Inc. - Financing Completed.Business Editors TORONTO--(BUSINESS WIRE)--June 13, 2002 News Release No. 03-02 Chesbar Resources Inc. (the "company") is pleased to announce that it has completed a Private Placement in the amount of $1,432,000. A total of 7,160,000 units priced at $0.20 each have been subscribed Subscribed Newly issued securities that an investor has agree to, or stated his intent to, buy in a public offering prior to the issue date. When an investor uses rights, he expects to own the designated number of shares they have subscribed to once the offering is completed. for with each unit consisting of one common share and one common share purchase warrant (the "warrant"). Each warrant entitles its holder to purchase one additional common share of the capital stock of the company at $0.25 per share within 12 months and $0.50 per share thereafter up to 24 months. If all warrants are exercised, the additional amount received by the company would be between $1,790,000 and $3,580,000, depending on when the warrants were exercised. The proceeds will be used for working capital purposes as well as for further work on the Buena Vista Nickel-Magnesium Project in Guatemala Guatemala, city, Guatemala Guatemala, city (1994 est. pop. 823,301), S central Guatemala, capital of the republic. Its full name is La Nueva Guatemala de la Asunción. In a broad, fertile, highland valley, c. .
Trading symbol on the TSE: "CBI"
For additional information on Chesbar Resources Inc., contact:
Tel: (416) 363-1124/Fax: (416) 360-0728
Website: www.chesbar.com E-mail: chesbar@istar.ca
CHESBAR RESOURCES INC.
141 Adelaide Street West, Suite 901,
Toronto, Ontario, M5H 3L5
Telephone (416) 363-1124 Fax (416) 360-0728
|
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion