Compact Power Holdings Announces Private Placement.CALGARY Calgary (kăl`gərē), city (1991 pop. 710,677), S Alta., Canada, at the confluence of the Bow and Elbow rivers. The largest city in Alberta and the fastest-growing major city in Canada, Calgary is a corporate, transportation, and financial , Alberta--(BUSINESS WIRE)--June 26, 1997-- Compact Power Holding(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. CPHL CPHL Central Public Health Laboratory (London, UK) CPHL Central Professional Hockey League CPHL Calgary Puck Hockey League ) COMPACT POWER HOLDINGS LIMITED (CDN: "CPHL") (the "Corporation") is pleased to announce that it has agreed terms for a private placement to raise 500,000 pounds by the issue of 22,600,000 new shares together with warrants to subscribe for further 11,300,000 shares at C$0.10 per share. The investors in this placing are Cooper Holdings Limited representing the interests of Nic Cooper, the President of the Corporation, and the private pension fund of John Gunn John Gunn may refer to:
The issued and outstanding common shares of the Corporation were 29,391,907 before the private placement and are 51,991,907 after the private placement, of which Nic Cooper, through the interests of Cooper Holdings Limited and the Nicholas Cooper Pension Fund, beneficially owns/controls 18,519,530 shares (representing 35.67 percent) and Wengen Pension Plan beneficially owns 11,300,000 shares (representing 21.73 percent). There are no immediate changes in the management of the Corporation, but it is expected that additional senior management will be appointed to meet the anticipated growth in the business. An additional director will be nominated nom·i·nate tr.v. nom·i·nat·ed, nom·i·nat·ing, nom·i·nates 1. To propose by name as a candidate, especially for election. 2. To designate or appoint to an office, responsibility, or honor. by Wengen Pension Fund for appointment to the board of directors in due course. The placing will provide funding for the continued development of the business which will give priority to running a demonstration project in the early part of 1998, as a precursor precursor /pre·cur·sor/ (pre´kur-ser) something that precedes. In biological processes, a substance from which another, usually more active or mature, substance is formed. In clinical medicine, a sign or symptom that heralds another. to a programme of commercial projects based on current initiatives. The Corporation has requested Bow Lane Capital Limited of London to arrange for the funding for the demonstration project. On the basis of the results achieved with the Compact Power technology to date and the interest shown in the potential commercial applications, the Corporation expects to negotiate licence arrangements on terms which will contribute to this immediate requirement, and in this next phase the Corporation will raise further substantial equity funding Equity funding An investment consisting of a life insurance policy and a mutual fund. The insurance policy is paid by the collateral value of fund shares, giving the investor the advantages of insurance protection with the growth potential of a mutual fund. to cover the longer term requirements of the business. CONTACT: Compact Power Holdings Limited Mr. Nic Cooper, 011/44-117-9744146 |
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