The exchange of previously issued units into 4.3 million common shares and 4.3 million common share purchase warrants has been completed, Belmoral Mines reports.
The units were purchased July 15 by McLeod Young Weir International at $6.50 per unit for an aggregate consideration of $27,950,000. The units were sold primarily in Europe to private and institutional investors. Each warrant entitles the holder to buy one common share of Belmoral at $8.50 by Jan 15, 1990.
The common shares and warrants have been listed on the Toronto, Montreal and Vancouver stock exchanges.
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