Post by Franko10 ™ on Dec 6, 2004 8:59:43 GMT -5
EXPLOR RESOURCES INC.
132 Finlayson Street, Box 1080 – La Ronge, Saskatchewan S0J 1L0
Tel: (306) 425-3350 Fax: (306) 425-2535
PRESS RELEASE
Explor Closes Private Placement October 15, 2004
The Corporation wishes to announce it has closed a broker sponsored private placement to raise $488,550
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%); 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).
On behalf of the Board and as President, Randy Studer. Phone: (306) 425-3350 Fax: (306) 425-2535
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this Release.
132 Finlayson Street, Box 1080 – La Ronge, Saskatchewan S0J 1L0
Tel: (306) 425-3350 Fax: (306) 425-2535
PRESS RELEASE
Explor Closes Private Placement October 15, 2004
The Corporation wishes to announce it has closed a broker sponsored private placement to raise $488,550
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%); 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).
On behalf of the Board and as President, Randy Studer. Phone: (306) 425-3350 Fax: (306) 425-2535
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this Release.