Vescan Equities announces private placement.
Pinch replaces Bram Solloway as the company's president. The board of directors presently consists of the following four members: Michael Pinch, Stephen Salaga, Sterling Klein and Bram Solloway.
The board of directors further reports that it has negotiated a private placement of 600,000 units at $0.25 per unit, each unit consisting of one share and one warrant exercisable to purchase one additional share in year one at $0.25 per share and in year two at $0.30 per share. Proceeds of the private placement will be used for general working capital.
The company is presently exploring various potential mining acquisitions and expects to conclude a transaction in the near term. -0- ON BEHALF OF THE BOARD "MICHAEL PINCH", PRESIDENT
The information contained herein has neither been approved nor disapproved by regulatory authorities.
CONTACT: Vescan Equities Inc.
Michael Pinch, 604/683-7422, 604/685-3796 (Fax)
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|Date:||Mar 7, 1996|
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