Robert McEwen takes control...I wonder why?
Tone Resources 3.3-million-share private placement
2005-12-16 17:41 ET - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Nov. 30, 2005, and Dec. 15, 2005.
Shares: 3.3 million
Price: 20 cents
Warrants: 3.3 million share purchase warrants to purchase 3.3 million shares
Exercise price: 25 cents for a two-year period
Placees: 16
Insiders: Daniel F. Huber 25,000; Guilford Brett 20,000; Sam M. Storey 25,000; Robert R. McEwen 2.5 million
The resulting control position from the issuance of 730,000 units of the 2.5 million subscribed by Robert R. McEwen will be subject to disinterested shareholder approval at the company's annual general meeting scheduled for Feb. 10, 2006.