Concert Industries: Private Placement.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , B.C.--(BUSINESS WIRE)--July 7, 1998-- CONCERT INDUSTRIES(ME:CNG CNG Compressed Natural Gas CNG Calling (Tone) CNG Comfort Noise Generation CNG Cryptography Next Generation (Microsoft Windows Vista) CNG Centre National de Génotypage .) The Board of Directors of Concert Industries Ltd. announces that, further to the Company's news release of June June: see month. 16, 1998, the private placement of $1.5 million through the issuance of 600,000 units at a price of $2.50 per unit with each unit consisting of one common share and one share purchase warrant has been amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. . Under the amended terms, the warrants attached to the shares have been eliminated. Therefore, the amended private placement will be in the amount of $1.5 million through the issuance of 600,000 shares only. The private placement is subject to regulatory approval. The Board of Directors also announces the issuance of 250,000 share purchase warrants at a price of $2.20 per warrant pursuant to a loan agreement in the amount of $550,000. The warrants are exercisable for a term of three years. The issuance of these warrants is also subject to regulatory approval. On behalf of the Boardof Directors ofConcert Industries Ltd. Dieter Peter, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.
CONTACT: Concert Industries Ltd.
Dieter Peter, 604/681-1008
E-mail: invrel@air-laid.com
http://www.air-laid.com/
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