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FIRST SECURITY CORPORATION PRIVATE PLACEMENT - AMENDMENT

FIRST SECURITY CORPORATION PRIVATE PLACEMENT - AMENDMENT
    VANCOUVER, Oct 1 /CNW/ - First Security Corporation announces that further to the news release dated September 18, 1992, brokered private placement with Haywood Securities Inc., for 750,000 Units at $1.20 per Unit, warrant exercisable at $2.00 for one year, the Company wishes to amend the agreement to read:
    Number of Units:     583,000 Units, each Unit comprising 1
                         common share and one non-transferable
                         share purchase warrant.
    Warrant Terms:       Warrants exercisable at $1.75 for one
                         year from the close of the private
                         placement.
    Commission:          8.4 percent payable to Haywood in units
                         (48,972 Units) at the conclusion of the
                         private placement.
    Price per Unit:      $1.20 per Unit
    The reduction in the brokered private placement is at the request of the Company which has obtained the difference through private placements conducted through management.
    All other terms of the original agreement with Haywood Securities Inc. remain the same.
    The foregoing terms of this private placement are subject to approval from the Vancouver Stock Exchange.
    For further information:  Shlomo Friedman, Director (604) 986-1753
    (FS.)
    -0-             10/01/92


CO: FIRST SECURITY CORPORATION ST: -- c0122 -- X032 10/01/92
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Oct 1, 1992
Words:196
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