Continental Caretech Corporation announces private placements.TORONTO, Ontario--(BUSINESS WIRE)--Feb. 9, 1996--CONTINENTAL CARETECH (CANADIAN DEALING NETWORK Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. :CNCC CNCC Conseil National des Centres Commerciaux CNCC Consciousness in a Natural and Cultural Context (EUROCORES programme) CNCC Council of Northern Caving Clubs CNCC Customer Network Control Center ) Peter Walker, President of Continental Caretech Corporation, is pleased to announce that the Company has entered into agreements for two private placements which will net the Company initially $2,050,000. The shares will be purchased by two investors for $1.00 per share as follows: Dundee Bancorp Inc. as to 1,900,000 shares and Mr.Peter McRae as to 150,000 shares. Mr.Peter McRae is a director of the Company. No commissions are payable by the Company with respect to the transaction. The shares are subject to the restrictions governing private placements in the Province of Ontario. Dundee Bancorp Inc. will also receive 1,900,000 non-transferable warrants to buy 1,900,000 Continental Caretech Corporation shares at $1.10 prior to May 15, 1996. Mr. Ned Goodman, Chairman, President and Chief Executive Officer of Dundee Bancorp Inc. will be joining the Board of Continental Caretech. The funds will be used for general corporate purposes and to expand the Company's gold exploration programs at the Thunder Lake Thunder Lake can refer to:
Northern Ontario has a land area of 802,000 km² (310,000 mi²) and constitutes 87% of the land area of Ontario, although it . Subsequent to the issuance of the shares and assuming exercise of the warrants related to this transaction, the Company will have 9,506,887 shares issued and outstanding with approximately $4,200,000 in working capital. Continental Caretech Corporation is a gold exploration Company focussed primarily on Canadian exploration. One of the Company's principal projects is a joint venture with Teck Corporation in the "Thunder Lake" properties in northwestern Ontario Northwestern Ontario is the region within the Canadian province of Ontario which lies north and west of Lake Superior, and west of Hudson Bay and James Bay. It includes most of subarctic Ontario. . CONTACT: Continental Caretech Corporation Peter Walker President 416/482-8606 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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