here's the $$should put an end ot the drop in price one of these days
Titanium arranges $8-million brokered equity financing
Titanium Corp Inc TIC
Shares issued 18,922,560 Jan 6 close $1.72
Wed 7 Jan 2004 News Release
Mr. George Elliott reports
TITANIUM CORPORATION ANNOUNCES FINANCING FOR ITS PILOT PLANT IN REGINA
Titanium Corporation has signed a letter of engagement for a brokered
private placement of up to $8,007,000 by issuing up to 4.71 million units
at a price of $1.70 per unit.
The terms of the offering have been set between Titanium Corporation and a
syndicate composed of First Associates Investments Inc. and Dundee
Securities Corp. Each unit will consist of one common share and one-half of
one common share purchase warrant. One whole common share purchase warrant
will entitle the holder to purchase one additional common share at an
exercise price of $2.00 per share for a period of 18 months from the
closing date. The proposed private placement is subject to receiving
regulatory approval and the securities issued under the offering will be
subject to a four-month hold period. It is contemplated that the offering
will close on or before Jan. 31, 2004.
First Associates will act as lead agent in placing the units and will be
entitled to receive a commission of 7 per cent of the gross proceeds raised
in the offering. In addition, First Associates will be granted
non-transferable agent's compensation options equal to 8 per cent of the
number of units sold under the offering. Each agent's compensation option
will entitle the holder to acquire a unit at an exercise price of $1.70 per
unit for a period of 12 months from the date of closing of the offering.
Proceeds of the financing will be used to pay for the construction and
operation of the pilot plant being constructed in Regina, Sask., at the
facilities of the Saskatchewan Research Council for processing titanium-
and zircon-bearing heavy minerals from Syncrude's centrifuge plant tailings
stream, and for general corporate purposes (see news in Stockwatch dated
Dec. 10, 2003).
WARNING: The company relies upon litigation protection for
"forward-looking" statements.
(c) Copyright 2004 Canjex Publishing Ltd. https://www.stockwatch.com
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