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Gold/Mining/Energy : St. Genevieve Resources (SGV.T & SGV.M) -- Ignore unavailable to you. Want to Upgrade?


To: philip trigiani who wrote (117)3/11/1998 1:51:00 PM
From: Claude Robitaille  Read Replies (1) | Respond to of 140
 
Proposed private placements

Spider Resources Inc SPQ
Shares issued 79,806,176 Mar 9 close $0.13
Wed 11 Mar 98 News Release
Ms Mary Peschka reports
The company has reached agreements in principle with three investors
pursuant to which it will issue on a private placement basis a total of
1,965,217 shares.
The first subscriber will subscribe for 1,565,217 shares at $0.115 for
total proceeds of $180,000 and will pay its subscription price by agreeing
to extinguish Spider's current indebtedness to such subscriber of $180,000.
The remaining two subscribers will subscribe for a total of 400,000 shares
at $0.20 for total proceeds of $80,000. Spider currently owes such
subscribers the total sum of $80,000 on account of the third instalment of
the purchase price for Spider's Wawa property. The $80,000 subscription
price will be paid by such subscribers agreeing to extinguish the
indebtedness owing by Spider in respect of such outstanding purchase price.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com