Farallon Arranges $5.7 Million Financing.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 31, 2003 Ronald W. Thiessen, 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. of Farallon Resources Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :FAN) announces that Farallon has reached agreements in principle to privately place 15 million units in its capital at a price of $0.38 for gross proceeds of $5.7 million to a number of accredited investors Accredited Investor A term used by the Securities and Exchange Commission (SEC) under Regulation D to refer to investors who are financially sophisticated and have a reduced need for the protection provided by certain government filings. Also known as "qualified purchaser". , including Company insiders. Each unit will consist of one common share and a share purchase warrant exercisable to purchase an additional common share at a price of $0.50 for a two year period from completion of the financing which is expected to occur in early December. Proceeds from the placement will be used to commence planning for exploration in 2004 and general working capital purposes. The offering is subject to execution of definitive agreements and TSX acceptance which is expected in the ordinary course. The common shares in the units and the shares issuable on exercise of the warrants will be subject to a four month resale restricted period in the principal Canadian jurisdictions. The common share purchase warrants are subject to an accelerated expiry if, at any time following the expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created of the four-month hold period, the published closing trade price of the Common Shares on the TSX Exchange is greater than or equal to $1.00 for any 10 consecutive trading days In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. , in which event the Holder will be given notice that the Warrants will expire 45 days following the date of such notice. The common share purchase warrants may be exercised by the holder during the 45 day period between the notice and the expiration of the common share purchase warrants. Brokers and finder finder, in law. Ordinarily the finder of lost property is entitled to retain it against anyone except the owner. It is larceny, however, for the finder to keep the property if he knows or can easily determine who owns it. fees to be paid at approximately 6% in cash or units on the financing excluding those sold to Company insiders. ON BEHALF OF THE BOARD OF DIRECTORS Ronald W. Thiessen, President & CEO |
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