Name - Newgate Resources Ltd
Symbol - NGT.RT
Cusip Number - 65136J 11 6
Expiry Date - October 20 1994
1994-09-19 16:49 MT - Rights Offering
The ASE has been advised that the company is issuing rights to the holders of its common shares at record at the close September 26 1994. Shareholders will receive one right for each common share held. The rights offering prospectus has been cleared in Alberta, BC, and Ontario only.
The rights will be posted for trading on the ASE September 20 1994. The common shares will commence trading on an ex-rights basis at the opening September 20 1994.
Eight rights and $0.50 will purchase one unit, each unit consisting of one common share, one flow-through common share, and one warrant. Each warrant entitles the holder to purchase one common share at $0.30 on or before September 30 1995.
Rt trading symbol: NGT.RT
Rt security No: ISM-834 364; WCCC-834 364
Rt Cusip No: 65136J 11 6
Expiry date: October 20 1994
Cash trading date: October 13 1994
Rights give existing shareholders a chance to proportionately buy shares in the new issue the company is putting out to raise more funds. The certificate showing this privilege is called a right. It gives the stockholders the first opportunity, to buy the new securities.
An offer made by a company to its shareholders to enable them to buy new shares in the company at a discount to the market price.