With Cloud Expo 2012 New York (10th Cloud Expo) now under four months away, what better time to start introducing you in greater detail to the distinguished individuals in our incredible Speaker Faculty for the technical and strategy sessions at the conference...
We have technical and strategy sessions for you every day from June 11 through June 14 dealing with every nook and cranny of Cloud Computing and Big Data, but what of those who are presenting? Who are they, where do they work, what e...| By Marketwire . | Article Rating: |
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| August 7, 2007 01:30 PM EDT | Reads: |
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TORONTO, ONTARIO -- (MARKET WIRE) -- 08/07/07 -- David A. Bending, President and CEO of Shoreham Resources Ltd. (TSX VENTURE: SMH) is pleased to announce that Shoreham has received final approval from the TSX Venture Exchange for the previously announced $300,000 flow-through private placement with MineralFields Group (July 18, 2007 news release).
Shoreham has issued 666,666 units at $0.45 per unit, for proceeds of $300,000. Each unit consists of one flow-through common share and one non-flow through warrant. Each warrant entitles the holder to acquire one non-flow through common share of the Company at a price of $0.65 during the eighteen-month period following date of close. The warrants have a forced exercise provision, which allows Shoreham to communicate an earlier expiry date for the warrants of thirty days from the notice date if the common shares of Shoreham have traded for $0.90 or more for ten consecutive trading days, anytime after the four month restricted period has expired. All securities issued pursuant to this private placement are subject to a restriction period of four months from the date of issuance.
Shoreham has paid a finder's fee of 46,666 non flow-through common shares plus 46,666 broker warrants on this private placement. The broker warrants entitle the holder to purchase one non flow-through common share of the Company for $0.45 for a period of eighteen months following issuance. The broker warrants have a forced exercise provision that allows Shoreham to communicate an earlier expiry date of thirty days from the communication date if the shares have traded for $0.90 or more for ten consecutive trading days, anytime after the four month legend period has expired. The finder's fee shares and broker warrants were paid to Limited Market Dealer Inc., a related company of MineralFields located in Toronto, Canada. All proceeds from these private placements will be used for flow-through expenditures on Shoreham's various properties in the Red Lake Mining District of northwestern Ontario.
On July 18, 2007 the Company announced the close on $2,183,250 in the initial flow-through private placement. MineralFields Group participated in this initial private placement for $300,000 acquiring 666,6666 shares plus 46,666 broker shares. MineralFields Group now controls 1,426,664 common shares of the company or 3.9% of the 36,458,967 total issued and outstanding common shares of the Company. MineralFields Group also now controls 1,426,664 warrants representing an additional 3.9% of the current issued and outstanding. - "The Company is pleased to see MineralFields double it's investment in Shoreham and expand on our mutual relationship", said David A. Bending, President & CEO.
About MineralFields, Pathway and First Canadian Securities ®
MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities®, a division of Limited Market Dealer Inc., is active in leading resource financings (both flow-through and hard dollar) on competitive, effective and service-friendly terms, with investors both within, and outside of MineralFields Group.
The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release
Contacts:
Shoreham Resources Ltd.
David C. Hammond
CFO & Director
(416) 867-1101
(416) 867-1222 (FAX)
Website: www.shorehamresources.com
Published August 7, 2007 Reads 1,448
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As more enterprises are adopting clouds, the nature of cloud computing is changing. Previously, clouds were used to test applications or for non-mission critical applications. Today, enterprises are using clouds for cost-saving advantages and launching more mission critical applications that have defined performance needs.
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