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Post by Franko10 ™ on Sept 11, 2004 14:29:31 GMT -5
News Release
November 2, 1999
Shane Resources Arranges Private Placement
The company has arranged a private placement consisting of one million units at 20 cents per unit. Each unit consists of one share and one warrant. The warrants are exercisable at 20 cents per share during the first year and at 25 cents during the second year. A total of 700,000 units is being placed with an insider.
The proceeds of the financing will be used to advance the company's diamond and gold properties and for general corporate purposes.
The company has also entered into a financial advisory agreement with IPO Capital Corporation for cash and shares.
ON BEHALF OF THE BOARD OF DIRECTORS OF SHANE RESOURCES LTD.
Rick Walker President
The Vancouver Stock Exchange has neither approved nor disapproved the contents of this news release.
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