Firstline is in final stages on its 10SB filing for the OTC BB listing and continues its Super Flow-Through Offering Memorandum
24 Novembro 2005 - 1:30PM
PR Newswire (US)
Firstline Environmental Solutions Inc (FEMS.PK) Shares Issued
17,506,815 Last Close 11/23/2005 $.0625 USD VANCOUVER, Nov. 24
/PRNewswire-FirstCall/ -- Mr. Dorlyn Evancic reports, Firstline
reports it is progressing with the 10SB filing for its listing on
the OTCBB Exchange. The Company is now in the final stage of
compliance review with the U.S. Securities Exchange Commission and
is awaiting approval for the potential listing in December 2005.
Firstline is continuing with its issuance of a non-brokered private
placement to Canadian investors through its Offering Memorandum for
issuance of Super(x) Flow-Through shares for total gross proceeds
of $500,000 CDN. Under the offering, $350,000 of the proceeds (70%)
will be expended toward further exploration and the drilling
program on Firstline's Burns Mountain mineral property, as
recommended by the Company's recent geology report. The Offering is
comprised of 200 units, each consisting of 10,000 common shares of
which 7,000 are flow-through. Each share has a warrant attached
which is exercisable in two years at a price of $0.50 USD per
share. The units are priced at $2,100 CDN each for the first 120
units and $3,100 CDN per unit for the remaining 80 units. Upon the
maximum subscription to the Offering, the Company will issue a
total of 2,000,000 common shares. Fully diluted the Offering will
realize $500,000 CDN, plus $1,000,000 USD upon the exercise of the
2,000,000 warrants. (x) In addition to the 70% tax deduction,
investors also receive a 35% tax credit (15% federal and 20%
provincial (eg. British Columbia) which the governments have
advised will expire December 31, 2005). On behalf of the Board of
Directors, Firstline Environmental Solutions Inc., "Dorlyn Evancic"
Director and CFO For further information on Firstline Environmental
Solutions please contact Investor Relations: Toll free in USA and
Canada: 1-866-848-2940 Email: Website: http://www.firstlinegrp.com/
Safe Harbor Statement under the United States Private Securities
Litigation Act of 1995: This release made may contain
forward-looking statements that are affected by known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company, or industry
results, to be materially different from any future results,
performance or achievements expressed, implied or anticipated by
such forward-looking statements. The Company does not intend to
update this information and disclaims any legal liability to the
contrary. DATASOURCE: Firstline Environmental Solutions Inc.
CONTACT: For further information on Firstline Environmental
Solutions please contact Investor Relations: Toll free in USA and
Canada: 1-866-848-2940, Email: , Website:
http://www.firstlinegrp.com/
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