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   Name - Corona Gold Corp

    Website -

    Symbol - CRG.RT

    Cusip Number - 219750 11 4

    Expiry Date - Oct. 13, 2005

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Corona Gold rights offering

 

2005-09-12 09:32 MT - Rights Offering

TSX bulletin 2005-1045

 

Rights symbol:  CRG.RT

Rights Cusip No.:  219750 11 4

Shareholder entitlement:  One right for each common share held on the record

Date terms of the rights:  Four rights entitle the holder thereof to one common share at a price of 25 cents per common share

Expiry time:  4 p.m. (Toronto time), Oct. 13, 2005

Ex rights date:  Sept. 14, 2005

Record date:  Sept. 16, 2005

Designated market-maker:  W.D. Latimer Co. Ltd.

 

Holders of common shares of record as of the close on Sept. 16, 2005, will be granted the right to subscribe for one additional common share for every four common shares of the company held on such record date at a subscription price of 25 cents per common share. The rights are evidenced by transferable rights certificates registered in the names of holders of common shares of record on the record date on the basis of one right for each common share held. Four rights will entitle the holder to subscribe for one common share at the subscription price of 25 cents per common share. The rights will expire at 4 p.m. (Toronto time), on Oct. 13, 2005.

The common shares of the company will commence trading on an ex rights basis at the open on Sept. 14, 2005, at which time the rights will be posted for trading on a when-issued basis. This offering of rights is being made to each holder of record on the record date with a registered address in British Columbia, Alberta and Ontario. The rights offering is not being made in the United States nor in provinces outside the qualified jurisdictions. Accordingly, right certificates will not be mailed to, and subscriptions will not be accepted from holders of common shares whose address of record is outside of the qualified jurisdictions or any other person who the company has reason to believe are nationals or residents of the U.S. or any province outside the qualifying jurisdictions. Instead, ineligible shareholders will be notified that the rights certificates to which they are entitled will be issued to and held by CIBC Mellon Trust Co. until Oct. 3, 2005 (10 days before the expiry time). Following such date, the subscription agent will attempt on a best-efforts basis, to sell the rights delivered to it through the facilities of the Toronto Stock Exchange prior to the expiry time on a date or dates and at a price or prices as the subscription agent determines in its sole discretion and the net proceeds of such sale, if any, will be paid to the ineligible shareholders on a pro rata basis by cheque. Amounts of less than $1 will not be remitted.

Holders of rights certificates may subscribe for common shares by completing Form 1 on the rights certificate and delivering it together with payment of 25 cents per share subscribed for to the principal office of CIBC Mellon Trust Co. in Toronto so as to be received there prior to the expiry time.

A holder of a rights certificate who has fully exercised all of the rights evidenced by such certificate will be entitled to subscribe for additional common shares, if available, at a price of 25 cents per share, by completing Form 2 as well as Form 1 on the rights certificate and delivering such certificate and payment of the subscription price for each additional common share subscribed for to CIBC Mellon Trust Co. as indicated above so as to be received there prior to the expiry time. If the total number of shares subscribed for under the additional subscription privilege exceeds the number of shares available, the available shares will be allotted on a pro rata basis. If a participant in the additional subscription privilege is allotted a number of shares less than the number specified in Form 2 by such subscriber, CIBC Mellon Trust Co. will refund the excess of the total subscription price paid by such participant. It is anticipated that the rights offering prospectus and the rights certificates will be mailed to shareholders on or about Sept. 21, 2005.

The company has not retained the services of any securities dealer or broker to solicit subscriptions for common shares and will not pay any fee or commission for soliciting such subscriptions. Pursuant to a standby commitment dated as of Aug. 31, 2005, Dundee Corp. has agreed, subject to certain conditions, to acquire, directly or indirectly, at the subscription price, any common shares issuable pursuant to the exercise of rights not acquired by other rights holders under the basic subscription privilege or the additional subscription privilege up to a maximum of 3,646,461 available common shares.

Trading and settlement rules

 

Trade dates             Settlement dates

Oct. 10, 2005             Oct. 12, 2005

Oct. 11, 2005, to 
Oct. 12, 2005             Cash next day

Oct. 13, 2005             Cash same day

 

 

1. All trades on Oct. 10, 2005, will be for special settlement on Oct. 12, 2005. These trades will appear on the Canadian Depository for Securities (CDS) settlement report and will be recorded with a settlement date of Oct. 12, 2005.

2. All trades on Oct. 11, 2005, and Oct. 12, 2005, will trade for cash settlement the following business day. Trades on Oct. 13, 2005, from the open to noon will be for same-day cash settlement.

3. Selling participating organizations must have the rights that are being sold in their possession or owed to them through clearing prior to such sale.

4. Should fail positions exist on the expiry date, purchasing participating organizations have the option of paying for the rights purchased and demanding delivery of the securities into which the rights are exercisable. Reference should be made to Rule 5-303. Such demand shall be made before 4 p.m. on the expiry date of Oct. 13, 2005.

 

Investors should contact their broker for information or advice on their investment.