Post by Franko10 ™ on Sept 11, 2004 14:11:25 GMT -5
Explor Resources Inc.: Amended Private Placement
09:24 EDT Friday, May 28, 2004 LA RONGE, SASKATCHEWAN--(CCNMatthews - May 28, 2004) - On April 8, 2004, Explor Resources Inc. (the "Corporation") announced a private placement of $300,000 consisting of 666,667 units at $0.45 per unit with each unit consisting of 1 common share and 1 common share purchase warrant exercisable at any time within 2 years at $0.60 per common share. The Corporation received TSX approval. The Corporation wishes to amend the terms of the placement. The Corporation now proposes to raise $600,000 consisting of 1,500,000 Units at $0.40/Unit. Each Unit will consist of a common share and a common share purchase warrant exercisable within 2 years at $0.60/share. Half of the placement will have flow through attributes. Placees have yet to be determined. The Corporation is seeking an agent/broker and may provide such broker with an 8% commission and rights to acquire 150,000 common shares at $0.60 per share exercisable within 18 months and 40,000 shares as a finders fee. All securities issued will have a 4 month hold period from closing. FOR FURTHER INFORMATION PLEASE CONTACT:
Explor Resources Inc. Randy Studer President (306) 425-3350 (306) 425-2535 (FAX) email@example.com The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this Release.
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