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KAP RESOURCES - SPECIAL WARRANT PRIVATE PLACEMENT.



VANCOUVER, British Columbia--(BUSINESS WIRE)--July 19, 1995--KAP RESOURCES LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . (VSE See DOS/VSE.

VSE - Virtual Storage Extended
: KAR)--KAP Resources Ltd. is pleased to announce that it has entered into an agreement with First Marathon Securities Limited, Wood Gundy Inc., and Bunting bunting, common name for small, plump birds of the family Fringillidae (finch family). Among the American buntings are the indigo bunting, in which the summer plumage of the male reflects sunlight as a rich, metallic blue; the painted bunting, or nonpareil (  Warburg Inc. for the issue and sale on a private placement basis of Special Warrants to raise aggregate proceeds of U.S.$30,000,000, subject to regulatory approval.

17,142,885 Special Warrants will be issued for U.S. $1.75 each.

Each Special Warrant will entitle the holder to receive upon exercise and without any additional payment one common share of KAP and one-half of a share purchase warrant. The share purchase warrants will have a term of five years, and each full share purchase warrant will entitle the holder to acquire one common share of KAP upon payment of U.S.$2.00 per share. Closing of the Special Warrant private placement is scheduled for Aug. 3, 1995.

The proceeds of the Special Warrant private placement will be used primarily to provide the remaining equity required for KAP's nitrate nitrate, chemical compound containing the nitrate (NO3) radical. Nitrates are salts or esters of nitric acid, HNO3, formed by replacing the hydrogen with a metal (e.g., sodium or potassium) or a radical (e.g., ammonium or ethyl).  project in Northern Chile. The proceeds of the offering, net of the underwriters' fee, will be held in escrow escrow

Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition.
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 KAP's U.S.$41,000,000 loan facility and satisfaction of the remaining conditions under that facility, following which KAP will be in a position to make the first draw of the loan. It is expected that funds will be released no later than the end of September, 1995 at which time construction of the project will commence.

The financing marks the last step in putting together KAP's nitrate project. Assuming that construction commences in October, 1995, the project is expected to be in full production in the first six months of 1997.

On behalf of the Board, Theodore J. Roth Director

-0-

The Vancouver Stock Exchange Vancouver Stock Exchange (VSE)

A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies.


Vancouver Stock Exchange

See Canadian Venture Exchange (CDNX).
 has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

CONTACT: Ted Roth, 619/943-0826
COPYRIGHT 1995 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1995, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Jul 19, 1995
Words:340
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