Post by Franko10 ™ on Sept 20, 2004 10:48:41 GMT -5
May 15, 2001
Shore Gold Announces $800,000 Private Placement
Jonathan Challis, President, is pleased to announce a non-brokered private placement of an aggregate 1,230,769 units of Shore Gold at a price of $0.65 per unit for gross proceeds of $800,000, to be placed to subscribers resident in British Columbia, Alberta and Saskatchewan. 307,692 units (“Class A Units”) will consist of one common share and one-half of one common share purchase warrant, each whole warrant is to be exercisable into one common share for a period of 12 months from closing of the private placement upon payment by the holder of $0.90 per common share. The common shares underlying the Class A Units and the common shares underlying the warrants will be issued on a flow through basis. 723,077 units (“Class B Units”) will consist of one common share and one-half of one common share purchase warrant, each whole warrant is to be exercisable into one common share for a period of 12 months from closing of the private placement upon payment by the holder of $0.80 per common share. The common shares underlying the Class B Units will be issued on a flow through basis. 200,000 units (“Class C Units”) will consist of one common share and one whole common share purchase warrant, each warrant is to be exercisable into one common share for a period of 12 months from closing of the private placement upon payment by the holder of $0.65 per common share. The private placement is subject to regulatory and stock exchange approval.
The Company will use the proceeds from the private placement for ongoing exploration activities on its Star kimberlite project, located 60 kms east of Prince Albert, Saskatchewan.
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Shore is a Canadian-based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Venture Exchange under the trading symbol "SGF".
For further information please contact:
Kenneth E. MacNeill, President & C.E.O.; George Sanders, Vice President Corporate Development; or George H. Read, P. Geo., Vice President Exploration at (306) 664-2202
Shore Gold Announces $800,000 Private Placement
Jonathan Challis, President, is pleased to announce a non-brokered private placement of an aggregate 1,230,769 units of Shore Gold at a price of $0.65 per unit for gross proceeds of $800,000, to be placed to subscribers resident in British Columbia, Alberta and Saskatchewan. 307,692 units (“Class A Units”) will consist of one common share and one-half of one common share purchase warrant, each whole warrant is to be exercisable into one common share for a period of 12 months from closing of the private placement upon payment by the holder of $0.90 per common share. The common shares underlying the Class A Units and the common shares underlying the warrants will be issued on a flow through basis. 723,077 units (“Class B Units”) will consist of one common share and one-half of one common share purchase warrant, each whole warrant is to be exercisable into one common share for a period of 12 months from closing of the private placement upon payment by the holder of $0.80 per common share. The common shares underlying the Class B Units will be issued on a flow through basis. 200,000 units (“Class C Units”) will consist of one common share and one whole common share purchase warrant, each warrant is to be exercisable into one common share for a period of 12 months from closing of the private placement upon payment by the holder of $0.65 per common share. The private placement is subject to regulatory and stock exchange approval.
The Company will use the proceeds from the private placement for ongoing exploration activities on its Star kimberlite project, located 60 kms east of Prince Albert, Saskatchewan.
--------------------------------------------------------------------------------
Shore is a Canadian-based corporation engaged in the acquisition, exploration and development of mineral properties. Shares of the Company trade on the TSX Venture Exchange under the trading symbol "SGF".
For further information please contact:
Kenneth E. MacNeill, President & C.E.O.; George Sanders, Vice President Corporate Development; or George H. Read, P. Geo., Vice President Exploration at (306) 664-2202