Strathclair Ventures (fka svl.t)

[Czechmate]

Strathclair 2.5-million-special-warrant financing

Strathclair Ventures Ltd SVL
Shares issued 2,854,046 Dec 17 close $0.41
Mon 23 Dec 2002 Private Placement
The company was declared inactive on Oct. 31, 2001. The company is still
prohibited from granting stock options and has restrictions relating to
management remuneration. These prohibitions will remain in effect until
further notice. The company is expected to initiate its reactivation within
12 months of being designated inactive and is required to achieve tier
maintenance requirements no later than May 1, 2003, failing which trading
in the securities of the company may be suspended.
The TSX Venture Exchange has accepted for filing documentation with respect
to a non-brokered private placement announced Sept. 17, 2002:
No. of shares: 2.5 million Class A special warrants
Price: 13 cents per special warrant
Description: each special warrant is exchangeable, at no additional
cost, into one common share of the company and one
share purchase warrant. Each warrant entitles the
holder to purchase one additional common share of the
company at an exercise price of 26 cents per share for
a period of one year.
Insider: Nemesis Enterprises Ltd. (J. Scott Drever) 275,000
special warrants
New insiders: Barney Magnusson 130,000 warrants; Gary Korzenowski
500,000 special warrants
Pro groups: C. Channing Buckland 100,000 special warrants; T & D
Atkinson 50,000 special warrants; Shane Meyers 50,000
special warrants
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the company must
issue a news release announcing the closing of the private placement and
setting out the expiry dates of the hold period(s). The company must also
issue a news release if the private placement does not close promptly. Note
that in certain circumstances the exchange may later extend the expiry date
of the warrants, if they are less than the maximum permitted term.
(c) Copyright 2002 Canjex Publishing Ltd. http://www.stockwatch.com