Owner
Post by Franko10 ™ on Sept 16, 2004 7:32:28 GMT -5
Tue Jan 13, 2004
Non-Brokered Private Placement
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TORONTO, ONTARIO--Morgain Minerals Inc. (the "Company" TSX Venture: MGM) is pleased to announce that it has agreed to a non brokered private placement to issue 1,000,000 units at a price of $0.30 per unit. Each unit ("Unit") consists of one common share in the capital of the Company (a "Common Share") and one share purchase warrant (a "Warrant"). Each Warrant is exercisable into one Common Share for a period of two years at an exercise price of $0.30 per share. Under the terms of the private placement, the agent, for its assistance in the private placement, will be entitled to a fee of 10% payable in units on the same above terms as the private placement.
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The proceeds of the proposed private placement will be used for the completion of a feasibility study on Morgain's 100% owned open pit heap leach El Cairo gold deposit located 75 km from the city of Durango, in the State of Durango, Mexico and for general working capital. The proposed private placement is subject to regulatory approval.
Non-Brokered Private Placement
--------------------------------------------------------------------------------
TORONTO, ONTARIO--Morgain Minerals Inc. (the "Company" TSX Venture: MGM) is pleased to announce that it has agreed to a non brokered private placement to issue 1,000,000 units at a price of $0.30 per unit. Each unit ("Unit") consists of one common share in the capital of the Company (a "Common Share") and one share purchase warrant (a "Warrant"). Each Warrant is exercisable into one Common Share for a period of two years at an exercise price of $0.30 per share. Under the terms of the private placement, the agent, for its assistance in the private placement, will be entitled to a fee of 10% payable in units on the same above terms as the private placement.
ADVERTISEMENT
The proceeds of the proposed private placement will be used for the completion of a feasibility study on Morgain's 100% owned open pit heap leach El Cairo gold deposit located 75 km from the city of Durango, in the State of Durango, Mexico and for general working capital. The proposed private placement is subject to regulatory approval.
