Columbia Yukon Resources: Private Placement.VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 18, 1998-- COLUMBIA YUKON (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :CYR CYR Colonia, Uruguay (Airport Code) .) Columbia Yukon Resources Ltd. (the company) wishes to announce that it has negotiated a private placement of 700,000 special warrants at a price of $0.15 per special warrant. Each special warrant will consist of one flow-through common share and one non-transferrable share purchase warrant, exercisable for a period of one year at a price of $0.20 per share, and will be exercisable into one flow-through common share. The company will be obliged o·blige v. o·bliged, o·blig·ing, o·blig·es v.tr. 1. To constrain by physical, legal, social, or moral means. 2. to use its reasonable best efforts to qualify the securities underlying the special warrants pursuant to a prospectus to be filed in the Provinces of 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 Alberta. If final receipts are not provided by the applicable securities regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities within 180 days of the closing of the private placement, the company will be subject to a penalty and each special warrant will then entitle the holder to 1.1 flow-through common shares and 1.1 flow-through warrants. The private placement will raise gross proceeds of $105,000 and is being sold to certain insiders of the company. Proceeds realized from the private placement will be used by the company to fund additional exploration work on its properties located in Alberta. The private placement is subject to regulatory approval. CONTACT: Columbia Yukon Resources Ltd. Douglas L. Mason, 604/683-3070 or 888/888-9122 CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. , 888/888-9123 USA 604/683-2308 (FAX) Web site: http://www.columbiayukon.com |
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