RE: That Explains...These guys that did the private placement are in for the long haul. They are not sellers.
Chariot shareholder the Caisse buys more shares
Chariot Resources Ltd (TSX:CHD)
Shares Issued 159,830,636
Last Close 7/13/2005 $0.315
Wednesday July 13 2005 - News Release
Mr. Gilles des Roberts of the Caisse reports
THE CAISSE DE DEPOT ET PLACEMENT DU QUEBEC ACQUIRES UNITS OF CHARIOT RESOURCES LIMITED
The Caisse de depot et placement du Quebec has purchased, through a private placement, 4.7 million units at a price of 32 cents per unit of the company Chariot Resources Ltd. Each unit consists of one common share plus one-half of a common share purchase warrant of the company which will separate immediately upon issue. Each whole warrant will entitle the purchaser to acquire one common share of the company, at a price of 35 cents, on or before 5 p.m. Eastern Time on Dec. 22, 2006.
Through those units, the Caisse obtains 4.7 million common shares, or 2.66 per cent of such shares outstanding and 2.35 million common share purchase warrants, or 3.14 per cent of such warrants outstanding.
Before this subscription, the Caisse held 8.47 million common shares of Chariot and 4,235,000 common share purchase warrants.
Through this transaction, the number of common shares of the company held by the Caisse will be 13.17 million or 7.46 per cent of such shares outstanding at the closing offering. The total number of common share purchase warrants will be 6,585,000 or 8.80 per cent of such warrants outstanding.
If the Caisse were to exercise its privilege with respect to all warrants, its participation would represent a total of 19,755,000 common shares of Chariot, or 10.79 per cent of such shares outstanding, on a partially diluted base.
The Chariot common shares and common share purchase warrants are listed on the Toronto Stock Exchange.
This transaction was made for investment purposes and the Caisse could increase or decrease its investments in Chariot Resources Ltd. depending on market conditions or any other relevant factor.