Concert Industries Ltd. - Private Placement.VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--March 5, 1997--Concert Industries Ltd. (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 .) -- Further to the Company's news releases of October 25 and December 16, 1996 concerning its convertible debenture Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. financing, the Company announces that the terms of the financing have been modified. Under the 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. subscription agreement, the Investor will participate in a private placement of 4,242,424 common shares at a price of $1.65 per share for total consideration of $7,000,000 and will be granted share purchase warrants to purchase an additional 3,939,474 common shares. Each share purchase warrant will entitle en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: the Investor to purchase one additional common share at $1.90 for the first year, $2.00 for the second year and $2.10 for the third year. The Company has retained its right to invest up to $5,000,000 with its European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. partner into a European joint venture with funds received on the exercise from the above share purchase warrants. The private placement is subject to regulatory and shareholder approvals. -0- On behalf of the Board of Directors Dieter Peter President & C.E.O. CONTACT: Concert Industries Ltd. Peter Dieter, 604/681-1008 604/681-2627 (FAX) Email: inrel@air-laid.com http://www.air-laid.com |
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