Corriente Resources Inc. Announces a Financing of $3.0 Million.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--March 2, 2000 Corriente Resources Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CTQ CTQ Centre de Toxicologie du Québec CTQ Critical To Quality CTQ Cysteine Tryptophylquinone CTQ Confined to Quarters .) ("Corriente") announced today that it has engaged Haywood Securities Inc. and Loewen, Ondaatje, McCutcheon Limited as underwriters with respect to a private placement of 2,424,000 Special Warrants at a price of $1.25 per Special Warrant, for gross proceeds of $3,030,000. This transaction is subject to regulatory approval. Each Special Warrant entitles the holder thereof to acquire one unit consisting of one common share and one common share purchase warrant. Each purchase warrant will entitle its holder to acquire one common share of Corriente at $1.39 on or before March 1, 2001. Closing is expected to occur by April 10, 2000. If receipts for a final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. are not obtained from the 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 , Ontario and Quebec securities commissions on or before August 10, 2000 or such later date as the Company and the underwriters may establish, subscribers will receive 1.05 Units. The Company intends to use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of the private placement for general corporate purposes and to fund its on-going exploration programs in Ecuador and Argentina. Drilling programs are currently underway in Ecuador on a copper joint venture with Billiton and in Argentina on the Famatina gold project. Kenneth R. Shannon, President Disclosure statements as required by the TSE and National Instrument 43-101 are available at our website www.corriente.com The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. has neither approved nor disapproved of the information contained herein. |
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