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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 |
Tuesday, January 04, 2000 CDNX 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 Canadian Venture Exchange for the issuance of up to 500,000 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$0.20 within the next two years. The proceeds of the private placement will be used for general working capital.
The issue price of the Units was determined using the December 31, 1999 closing trading price of C$0.27 less applicable discounts.
The proposed private placement is a non-arm's length transaction. No finder's fees or agents' commissions are payable.
The proposed private placement is subject to required regulatory approvals.
The private placement announced August 4, 1999 did not close and is withdrawn.
Yaletown Entertainment Corp. is a Canadian television and movie producer listed on the Canadian Venture 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 CANADIAN VENTURE 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