Hornby Bay Exploration Limited: Private Placement.TORONTO Toronto (tərŏn`tō), city (1998 est pop. 2,400,000), provincial capital, S Ont., Canada, on Lake Ontario. Toronto is the largest city in Canada and since the 1970s has been one of the fastest-changing cities in North America, experiencing -- Hornby The name Hornby can refer to : Places Canada
TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:HBE) wishes to announce that it has entered into an agreement with Toll Cross Securities Inc. for a proposed best-efforts private placement for gross proceeds of $2 million. The offering will be comprised of 1,818,181 units (a "Unit") of the Company at a price of $0.55 per Unit and 1,388,889 Flow Through Units ("Flow Through Unit") of the Company at a price of $0.72 per Flow Through Unit. Each Unit is comprised of one common share and one-half common share purchase warrant, each Warrant exercisable at a price of $0.75 for a period of 12 months from the date of closing. Each Flow Through Unit is comprised of one flow through common share and one-half of a flow through warrant, each flow through warrant exercisable at a price of $0.92 for a period of 12 months from the date of closing. In addition, there is an over-allotment option granted to Toll Cross Securities for up to an aggregate of $0.5 million in each category exercisable for 30 days following the closing date. Hornby Bay Exploration will pay Toll Cross Securities a commission equal to 8% of the aggregate gross proceeds and will issue broker warrants ("Broker Warrants") equal to 8% of the number of securities purchased under the offering. Each Broker Warrant will be exercisable at a price of $0.70 for one Unit for a period of 12 months from the closing date. The proceeds of this private placement will be used by the company for working capital and to fund its on-going uranium uranium (y  rā`nēəm), radioactive metallic chemical element; symbol U; at. no. 92; at. wt. 238.0289; m.p. 1,132°C;; b.p. 3,818°C;; sp. gr. 19. exploration program on its 214 mineral claims covering 211,000 hectares (520,000 acres) of the Hornby Bay Basin in the Coronation Gulf Coronation Gulf () lies between Victoria Island and mainland Nunavut in Canada. To the northwest it connects with Dolphin and Union Strait and thence the Arctic Ocean; to the northeast it connects with Dease Strait and thence Queen Maud area of Nunavut. Shares Outstanding: 60,212,291 CLOSE: September 27, 2004: $0.60 THE TSX VENTURE EXCHANGE TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS RELEASE. Hornby Bay Exploration Ltd. (TSX VENTURE:HBE) |
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