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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 |
August 4, 1999 A.S.E Trading Symbol: YAL
VANCOUVER, B. C., CANADA ------Yaletown Entertainment Corp. (the "Company") is pleased to make the following announcement:
PRIVATE PLACEMENT
The Company announces that it will be filing within 14 days a Notice of Proposed Private Placement with the Alberta Stock Exchange for the issuance of up to 1,000,000 Units at a price of C$0.20 per Unit. Each Unit will consist of one common share and one non-transferable share purchase warrant entitling the holder to acquire one additional share at C$0.25 within the next two years.
The issue price of the Units was determined using the ten day the weighted average trading price of C$0.25 less applicable discounts.
The proposed private placement will be an arm's length transaction. No finder's fees or agents' commissions are payable.
The proposed private placement is subject to required regulatory approvals.
Yaletown Entertainment Corp. is a Canadian television and movie producer listed on the Alberta Stock Exchange under trading symbol YAL.
For further information, please contact Mr. John Cumming, Chief Executive Officer, at telephone: (604) 688-0118 or check out our web site at www.yaletownentertainment.com.
John C. R. Cumming
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