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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 14, 2000
EURO TRADE & FORFAITING, INC.
(Exact name of Registrant as specified in its charter)
Utah
(State of Incorporation)
000-26031 87-0571580
(Commission File Number) (I.R.S. Employer Identification No.)
42 Brook Street, London, England W1Y 1YB
(Address of principal executive offices, including zip code)
(207) 958 9026
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS.
Pursuant to an underwriting agreement dated November 14, 2000 (the
"Underwriting Agreement") made between Euro Trade & Forfaiting, Inc. (the
"Corporation") and MFC Merchant Bank S.A. (the "Bank") the Corporation
sold, on a private placement basis (the "Transaction"), 8,500,000 units
(the "Units") at a purchase price of $1.35 per Unit with each Unit
comprised of one common share in the capital of the Corporation (a
"Share") and one share purchase warrant (a "Warrant") which entitles the
holder thereof to purchase one further Share at a price of $1.35 per
Share, subject to adjustment in certain circumstances, for a period of
five years from the date of issuance.
Pursuant to terms of the Underwriting Agreement, the Corporation paid to
the Bank an aggregate commission of 8% of the gross proceeds of the sale
of Shares. The Corporation will also pay to the Bank a commission of 8%
of the gross proceeds, if any, received by the Corporation on the exercise
of the Warrants.
The Transaction completed on November 14, 2000 and the Bank arranged for
substituted purchasers to purchase all of the Units.
The Corporation will use the net proceeds from the Transaction to seek
investment opportunities to expand its financial services business
including the financing of trade receivables, the pre-export and
specialized financing of commodities to well established small and medium
sized trading companies.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit No. Description
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1.1 Underwriting Agreement dated November 14,
2000 made between Euro Trade & Forfaiting,
Inc. and MFC Merchant Bank S.A.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Registrant: EURO TRADE & FORFAITING, INC.
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By: /s/ Michael J. Smith
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MICHAEL J. SMITH, DIRECTOR
Date: November 15, 2000
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EXHIBIT INDEX
Exhibit No. Description
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1.1 Underwriting Agreement dated November 14,
2000 made between Euro Trade & Forfaiting,
Inc. and MFC Merchant Bank S.A.
