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News Release
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YALETOWN ENTERTAINMENT CORP. 407 - 535 Howe Street, Vancouver, B. C. V6C 2Z4 Tel: (604) 688-0118 Fax: (604) 688-3348 CUSIP# 984909101 Rule 12g3-2(b)# 82-4336 |
October 25, 1996 A.S.E Trading Symbol: YAL
YALETOWN ENTERTAINMENT CORP. FILES PRIVATE PLACEMENT FOR MOTION PICTURE, TELEVISION AND MINERAL EXPLORATION PROJECTS
VANCOUVER, B. C. , CANADA --- Yaletown Entertainment Corp. announces that it has filed a Notice of Proposed Private Placement with the Alberta Stock Exchange for the issuance of up to 2,000,000 units at a price of C$1.00 per unit to fund the company's expanding activities in motion picture and television production and mineral exploration. The private placement is subject to final Alberta Stock Exchange approval.
The company reports that each unit will consist of one share and one non-transferrable share purchase warrant entitling the holder to purchase an additional share for C$1.15 within the next two years. A finder's fee will be paid in connection with this private placement.
Company officials said that the net proceeds of this private placement will increase the company's general working capital and will be used for several major projects in the entertainment and natural resource fields. Yaletown Entertainment Corp. is concluding arrangements for a significant literary property, is in discussion with television networks for a television series and will soon commence exploration on its recently acquired resource property.
Based in "Hollywood North" (Vancouver, Canada) Yaletown Entertainment Corp. is an established Canadian film producer of feature film, television and video for the global entertainment market and has diversified interests in mineral resource exploration in South America. The company is listed on the Alberta Stock Exchange under trading symbol YAL).
For further information, please contact Mr. John Cumming, Chief Executive Officer, at (604) 688-0118.
John C. R. Cumming, Director, Chairman & C.E.O.
THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE CONTENTS OF THIS PRESS RELEASE.
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Yaletown Entertainment Corporation, Vancouver B.C. Canada
tel: (604) 669-3543 - Executive/Production Offices
Canadian Venture Exchange: ECY