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Post by Franko10 ™ on Oct 16, 2005 17:05:20 GMT -5
Morgain Minerals Inc. Special Warrant Financing
Business Wire, Sept 29, 1997
TORONTO--(BUSINESS WIRE)--Sept. 29, 1997--(VSE:MGM., OTC Bulletin Board:MGIMF) Morgain Minerals Inc. is pleased to announce the clearing of the $3.4 million dollar Special Warrant Financing announced March 26, 1997. As of September 25, 1997 the Prospectus qualifies the distribution of 1,247,843 common shares without par value ("Shares") and 1,247,843 share purchase warrants ("Warrants") has received regulatory approval. Each Warrant entitles the holder to purchase an additional Share at $3.00 per Share until March 24, 1998 and subsequent thereto at $3.45 per Share until 5:00 p.m. (Toronto time) on March 24, 1999. The Prospectus also qualifies 62,392 Shares for distribution and 62,392 Warrants which may be issued under the compensation option to the agents. The clearance of the Prospectus releases the balance of $1.7 million dollars to the company. Morgain now holds a cash position in excess of $3.0 million. The proceeds will be used for continued exploration and working capital purposes on the Company's projects in Mexico.
ON BEHALF OF THE BOARD
RAYMOND J. MONGEAU
PRESIDENT -0- The Information contained in this release was prepared for Morgain by Raymond J. Mongeau. The Vancouver Stock Exchange has neither approved nor disapproved of the information contained herein.
CONTACT: Morgain Minerals Inc.
Raymond J. Mongeau, 416/364-5756
416/364-2595 (FAX)
COPYRIGHT 1997 Business Wire
Business Wire, Sept 29, 1997
TORONTO--(BUSINESS WIRE)--Sept. 29, 1997--(VSE:MGM., OTC Bulletin Board:MGIMF) Morgain Minerals Inc. is pleased to announce the clearing of the $3.4 million dollar Special Warrant Financing announced March 26, 1997. As of September 25, 1997 the Prospectus qualifies the distribution of 1,247,843 common shares without par value ("Shares") and 1,247,843 share purchase warrants ("Warrants") has received regulatory approval. Each Warrant entitles the holder to purchase an additional Share at $3.00 per Share until March 24, 1998 and subsequent thereto at $3.45 per Share until 5:00 p.m. (Toronto time) on March 24, 1999. The Prospectus also qualifies 62,392 Shares for distribution and 62,392 Warrants which may be issued under the compensation option to the agents. The clearance of the Prospectus releases the balance of $1.7 million dollars to the company. Morgain now holds a cash position in excess of $3.0 million. The proceeds will be used for continued exploration and working capital purposes on the Company's projects in Mexico.
ON BEHALF OF THE BOARD
RAYMOND J. MONGEAU
PRESIDENT -0- The Information contained in this release was prepared for Morgain by Raymond J. Mongeau. The Vancouver Stock Exchange has neither approved nor disapproved of the information contained herein.
CONTACT: Morgain Minerals Inc.
Raymond J. Mongeau, 416/364-5756
416/364-2595 (FAX)
COPYRIGHT 1997 Business Wire
