Circo Craft reports net proceeds of $8,775,000 from exercise of warrants.MONTREAL--(BUSINESS WIRE)--Jan. 9, 1996--Circo Craft (ME, TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : CCC CCC A very speculative grade assigned to a debt obligation by a rating agency. Such a rating indicates default or considerable doubt that interest will be paid or principal repaid. Also called Caa. ) -- Circo Craft reported today that 1,350,000 treasury shares have been issued for 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 $8,775,000 pursuant to the exercise of warrants. The warrants were issued as part of a public offering of Circo Craft common shares which closed on April 20, 1993. Each whole warrant entitled the holder to acquire one common share at a price of $6.50 not later than December 15, 1995. Following the exercise of these warrants, the total number of Circo Craft common shares outstanding was 15,435,200 at January 8, 1996. Concurrently, warrant holders acquired on the same terms 800,000 Circo Craft common shares already outstanding and deposited by Nicanco Holdings Inc., the principal shareholder, as part of the same public offering. As a result, Nicanco now holds 4,088,940 common shares, or 26.5 percent of the total number of shares outstanding. Circo Craft is Canada's leading manufacturer of advanced printed circuit structures, serving major international corporations and large U.S.-based contract assemblers in telecommunications, computer, automotive and industrial electronics. The Company's shares are traded on the Montreal and Toronto stock exchanges Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. . CONTACT: Circo Craft, Montreal Madeline Gareau, 514/694-8400 REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-236-4266 or |
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