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Post by Franko10 ™ on Sept 16, 2004 7:27:14 GMT -5
Tue Mar 4, 2003 Private Placement for $120,000 Completed
-------------------------------------------------------------------------------- Morgain Minerals Inc. is pleased to announce that the private placement of 400,000 Units of the Company at a price of $0.30 per Unit - announced on February 5, 2003, (the 'Offering') was completed on February 24, 2003. Each Unit consists of one common share in the capital of the Company and one-half share purchase warrant, each whole warrant is exercisable into one common share for a period of two years at a price of $0.36 per common share.
The Company is a 'Qualifying Issuer', as that term is defined in Multilateral Instrument 45-102, and accordingly, any common shares issued pursuant to this Offering as part of a Unit or acquired on exercise of a share purchase warrant are subject to restrictions on resale until June 24, 2003 in British Columbia, Alberta and Ontario.
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