Owner
Post by Franko10 ™ on Oct 15, 2004 13:33:28 GMT -5
Explor Closes Private Placement
10/15/2004 2:19:12 PM
LA RONGE, SASKATCHEWAN, Oct 15, 2004 (CCNMatthews via COMTEX) -- The Corporation wishes to announce it has closed a broker sponsored private placement to raise $480,550 consisting of 857,000 Flow-Through Units and 516,000 Non-Flow-Through Units at $0.35 per Unit. Each Unit consisting of 1 common share and one non-flow-through common share purchase warrant exercisable at any time within two years at $0.50 per common share. Canaccord Capital Corp. ("Canaccord") acted as an agent for the Corporation. Canaccord received the following consideration: (a) a cash commission of $38,440 (8%); (b) an administration fee of $5,000; (c) legal fees; and (d)137,300 Agents Warrants entitling Canaccord to purchase 137,300 common shares at any time with 18 months for $0.35 per common share. Canaccord also received delivery of 40,000 common shares as a corporate finance fee. The securities issued in conjunction with this financing are subject to a four month hold period. There are currently 7,176,695 issued and outstanding shares of the Corporation.
Effective July 13, 2004, Denis Bouchard was appointed as a director. Mr Bouchard is a director of Normabec Mining Resources Ltd. (TSXV-NMB) Effective July 13, 2004, Anne Slivitzky resigned as a director of the Corporation. Effective September 21, 2004, Michel Lemay was appointed as a director of the Corporation. Mr. Lemay has extensive experience in management of public companies and has directed financials mining operations in diamond and gold research during 8 years. Mr. Lemay was the President and founder of Arena gold Resources Inc. (CDNX-ARN), a public company involved in diamond and gold projects in west Africa, was President of Searchgold Resources Inc. (TSXV-RSG) a diamond production company in Guinea and a company presently completing feasibility studies on a gold deposit in Gabon and was President of Mirabel Resources Inc. (TSXV-RMB) which is involved in gold projects in Quebec, Canada. Mr Lemay is presently the President, CEO and Director of Stellar Pacific Ventures Inc (TSXV-SPX).
Explor Resources Inc.
Randy Studer
President
(306) 425-3350
(306) 425-2535 (FAX)
NEWS RELEASE TRANSMITTED BY CCNMatthews The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this Release.
Copyright (C) 2004, CCNMatthews. All rights reserved.
10/15/2004 2:19:12 PM
LA RONGE, SASKATCHEWAN, Oct 15, 2004 (CCNMatthews via COMTEX) -- The Corporation wishes to announce it has closed a broker sponsored private placement to raise $480,550 consisting of 857,000 Flow-Through Units and 516,000 Non-Flow-Through Units at $0.35 per Unit. Each Unit consisting of 1 common share and one non-flow-through common share purchase warrant exercisable at any time within two years at $0.50 per common share. Canaccord Capital Corp. ("Canaccord") acted as an agent for the Corporation. Canaccord received the following consideration: (a) a cash commission of $38,440 (8%); (b) an administration fee of $5,000; (c) legal fees; and (d)137,300 Agents Warrants entitling Canaccord to purchase 137,300 common shares at any time with 18 months for $0.35 per common share. Canaccord also received delivery of 40,000 common shares as a corporate finance fee. The securities issued in conjunction with this financing are subject to a four month hold period. There are currently 7,176,695 issued and outstanding shares of the Corporation.
Effective July 13, 2004, Denis Bouchard was appointed as a director. Mr Bouchard is a director of Normabec Mining Resources Ltd. (TSXV-NMB) Effective July 13, 2004, Anne Slivitzky resigned as a director of the Corporation. Effective September 21, 2004, Michel Lemay was appointed as a director of the Corporation. Mr. Lemay has extensive experience in management of public companies and has directed financials mining operations in diamond and gold research during 8 years. Mr. Lemay was the President and founder of Arena gold Resources Inc. (CDNX-ARN), a public company involved in diamond and gold projects in west Africa, was President of Searchgold Resources Inc. (TSXV-RSG) a diamond production company in Guinea and a company presently completing feasibility studies on a gold deposit in Gabon and was President of Mirabel Resources Inc. (TSXV-RMB) which is involved in gold projects in Quebec, Canada. Mr Lemay is presently the President, CEO and Director of Stellar Pacific Ventures Inc (TSXV-SPX).
Explor Resources Inc.
Randy Studer
President
(306) 425-3350
(306) 425-2535 (FAX)
NEWS RELEASE TRANSMITTED BY CCNMatthews The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this Release.
Copyright (C) 2004, CCNMatthews. All rights reserved.
