Crew Development Corporation C$8.4 Million Private Placement Announced.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--April 11, 2000 Crew Development Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CRU.) (FRANKFURT:KNC KNC Knowledge Navigation Center KNC Kensey Nash Corporation KNC Kawan Ng Cordero (Philippines: Flock of Lamb) ) ("Crew") is pleased to announce that it has arranged, through Orkla Securities and DnB Markets, a private placement of C$8.4 million with Norwegian institutional and private investors. The private placement, which is subject to the approval of regulatory bodies, entails the issuance of 7.4 million shares at C$1.14 per share. The Company will pay a fee to Orkla Securities and DnB Markets on the proceeds raised. As a result of this private placement, Crew will have a total of approximately 81,500,000 shares outstanding. The Company will primarily utilize the proceeds to fund the development, and increased ownership position of, its high-grade Nalunaq gold project in Greenland, together with the final feasibility study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. of its substantial Mindoro nickel nickel, metallic chemical element; symbol Ni; at. no. 28; at. wt. 58.69; m.p. about 1,453°C;; b.p. about 2,732°C;; sp. gr. 8.902 at 25°C;; valence 0, +1, +2, +3, or +4. laterite laterite Soil layer rich in iron oxide and sometimes aluminum, derived from a wide variety of rocks by leaching. It forms in tropical and subtropical regions where the climate is humid. project in the Philippines. John M. Darch, President and C.E.O. This News Release was prepared by the Board of Directors on behalf of Crew Development Corp. which is solely responsible for its contents. |
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