Post by Franko10 ™ on Sept 11, 2004 14:43:29 GMT -5
December 5, 2003
Private Placement Raises $200,000
Shane Resources Ltd. (TSX: SEI.H) is pleased to announce the closing of its private placement totalling $200,000. These funds were raised by the Company issuing 2,000,000 units at a price of $0.10 per unit, each unit consisting of one common share and one share purchase warrant entitling the holder to purchase one additional common share at a price of $0.15 until November 27, 2004. Of the 2,000,000 units issued, 1,000,000 units are flow-through units.
The shares, and any shares to be issued upon the exercise of the warrants, are subject to a hold period expiring November 27, 2004.
ON BEHALF OF THE BOARD
Rick Walker, President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
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