Post by Franko10 ™ on Sept 20, 2004 10:50:39 GMT -5
May 23, 2001
Shore Gold Announces Expansion Of Private Placement
Jonathan Challis, President, is pleased to announce the expansion of the non-brokered private placement previously announced on May 17, 2001 from an aggregate of 1,230,769 units to an aggregate of 1,692,307 units of Shore Gold representing a further $300,000 in proceeds to the company. The additional $300,000 will be made up of 461,538 units (“Class D Units”) at a purchase price of $0.65 per unit, with each Class D Unit consisting 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 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 Expansion Of Private Placement
Jonathan Challis, President, is pleased to announce the expansion of the non-brokered private placement previously announced on May 17, 2001 from an aggregate of 1,230,769 units to an aggregate of 1,692,307 units of Shore Gold representing a further $300,000 in proceeds to the company. The additional $300,000 will be made up of 461,538 units (“Class D Units”) at a purchase price of $0.65 per unit, with each Class D Unit consisting 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 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