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   Name - Afri-Can Marine Minerals Corp

    Website -

    Symbol - AFA.RT

    Cusip Number -  008278 11 1

    Expiry Date - May 23, 2005

    News Releases

 

Afri-Can Marine to offer rights per share

 

2005-04-22 14:40 MT - Rights Offering

The company has announced that, on May 2, 2005, the company will offer to shareholders on record, rights to purchase shares of the company. One right will be issued for each common share held. Five rights plus 10 cents are required to purchase one share. The expiry date for the rights offering is May 23, 2005. As at April 19, 2005, the company has 85,215,975 shares issued and outstanding.

Effective at the opening, April 28, 2005, the shares of the company will trade ex-rights and the rights will commence trading at that time on a when issued basis. The company is classified as mineral exploration/development.

Summary

 

Basis of offering:  One right will be issued for each common share held. Five rights plus 10 cents will entitle the holder to subscribe for one common share.

 

Record date:  May 2, 2005

Shares trade ex-rights:  April 28, 2005

Rights called for trading:  April 28, 2005

Rights trade for cash:  May 18, 2005

Rights expire:  May 23, 2005

Rights trading symbol:  AFA.RT

Rights CUSIP No.:  008278 11 1

Subscription agent and trustee:  Computershare Trust Company of Canada

 

Jurisdictions:  British Columbia, Alberta, Ontario and Quebec

 

For further details, please refer to the company's rights offering circular dated April 19, 2005. It is expected that the rights offering circular will be mailed to the shareholders on May 5, 2005.

The company's rights offering circular has been filed with and accepted by the British Columbia, Alberta and Ontario securities commissions and the Autorite des marches financiers pursuant to the provisions of the British Columbia, Alberta, Ontario and Quebec securities acts.