Canadian Warrants - Avnel Gold Mining Ltd

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Avnel Gold Mining Ltd

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Address: 22 Smith St
Guernsey GY21 2JQ
Phone: 0114402075899082
Fax: 0114402075898507
Website - https://www.avnelgold.com/

Warrant Symbol - AVK.WT
Number Trading - 6,381,764
Expiration Date - June 30, 2010
Cusip - G0683R 12 3
Exercise Price - $1.06

Warrants called to trade news:

Avnel Gold Mining to list on the TSX on June 30

2005-06-28 20:02 ET - New Listing
TSX bulletin 2005-0761
An application has been granted for the original listing in the mining category of up
to 77,050,527 common shares of which up to 47,475,658 common shares will be
issued and outstanding, and up to 29,574,869 common shares will be reserved for
issuance upon completion of the initial public offering.

An application has also been granted for the listing of 6,381,764 common share
purchase warrants, all of which will be reserved for issuance upon completion of the
initial public offering. Listing of the common shares and warrants will become
effective at 5:01 p.m. on Wednesday, June 29, 2004, in anticipation of the public
offering closing on Thursday, June 30, 2005. The common shares and warrants will
be posted for trading on Thursday, June 30, 2005. The company will be subject to
the reporting requirements of Section 501 of the Toronto Stock Exchange company
manual.

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Common share symbol: AVK
Common share Cusip No.: G0683R 10 7
Warrant symbol: AVK.WT
Warrant Cusip No.: G0683R 12 3
Designated market-maker: TD Securities Inc.
Other markets: None
Listing statement No. 5608 is being prepared and the following constitutes
information appearing in the statement.
Fiscal year-end: Dec. 31
Nature of business: The company holds an indirect 80-per-cent interest in the
Kalana gold mine located in southwest Mali. Through its subsidiary companies, the
company holds a permit to operate the mine and carry on exploration activities in the
surrounding area.
Transfer offering and registrar: Computershare Investor Services Inc. for the
common shares and Computershare Trust Company of Canada for the warrants at
their principal offices in Toronto
Share capital

Authorized: Unlimited common shares and 11 million warrants
Issued: 47,475,658 common shares
Reserved common shares: 6,381,764 common shares issuable on exercise of the
warrants underlying the units and the agents' warrants;
431,806 common shares issuable pursuant to the agents' warrants exercisable into
units for a period 24 months from the date closing of the offering;
1,485,400 common shares issuable on exercise of the minority shareholder
warrants;
14,172,269 common shares issuable on conversion of convertible loan notes;
2.5 million common shares issuable pursuant to chief executive officer
compensation option; and
4,747,565 common shares issuable pursuant to the company's stock option plan.
To date, no options have been granted.
Warrants: 6,381,764 warrants underlying the units and issuable upon exercise of
the agents' warrants
Dividends: The company has not paid any dividends since incorporation and
dividends will not be paid in the foreseeable future.
Public offering: Pursuant to a prospectus dated May 27, 2005, as amended by
amendment No. 1 dated June 22, 2005, Credifinance Securities Ltd. and Dominick
& Dominick Securities Inc., as agents, are offering to the public up to 20 million units
at a price of 76 cents per unit, each unit consisting of one common share and
one-half of one warrant. The company intends to the use the net proceeds of the
offering as follows: (i) $4,215,000 mine development at Kalana gold mine; (ii) up to
2,505,000 for exploration projects; (iii) up 2.45 million for repayment of bridge
financing loan; and (iv) up to 1.87 million for working capital and expenses of the
offering.

Warrants: Each whole warrant entitles the holder to purchase one common share
at a price of $1.06 at any time prior to 5 p.m. (Toronto time) on June 30, 2010. The
warrants will be governed by the terms of a warrant indenture between the company
and Computershare Trust Company of Canada, as warrant agent. The warrant
indenture provides for appropriate adjustments to the warrants in the event of stock
dividends, subdivisions, consolidations and other terms of the capital reorganization.

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Warrant Terms

Expiration Date: The last day the warrants can be exercised. If warrants aren't going to be exercised then they must be sold the day before the expiry date. The longer the time to expiry the more valuable the warrants.

Leverage: A measure of how much you can increase your exposure to a share if you bought warrants instead of making a direct investment. It is the current share price divided by the current price of the warrant.

Intrinsic Value: The difference between the exercise price and the actual trading price of the common stock. Once the common has gone over the exercise price, the warrants are "In the Money."

Volatility: The higher the volatility rating, the higher the price of the warrant. Historical volatility is calculated by using the standard deviation of an underlying stock price over a specific period.

Time Value: The difference between the current warrant price and its intrinsic value. Interpreted as the consideration paid for the advantage the warrant buyer has over the direct investor.

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