Owner
Post by Franko10 ™ on Sept 20, 2004 10:52:30 GMT -5
September 27, 2001
Shore Gold Announces Filing of Preliminary Prospectus
Kenneth E. MacNeill, Chairman and CEO, is pleased to announce on behalf of the Board of Directors that the Corporation has filed a preliminary prospectus with respect to an offering of a minimum of $500,000 and a maximum of $3,000,000 of units of the Corporation (“Units”) with the securities commissions in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario (the “Offering”). The pricing of each Unit will be determined prior to the filing of a final prospectus. The Units offered will be Series A Units and Series B Units. Each Series A Unit will consist of one common share in the capital stock of the Corporation (a “Common Share”) and one-half of one common share purchase warrant (a “Warrant”), which will be exercisable into one Common Share for a period of 12 months from the date of issuance. Each Series B Unit will consist of one Common Share issued on a flow through basis and one-half of one Warrant. A maximum of $2,000,000 of gross proceeds will be derived from Series B Units. The closing of the offering is expected to occur in November 2001, subject to the receipt of all necessary regulatory approvals.
The Corporation has engaged Wellington West Capital Inc. (“Wellington”) to act as agent on a best efforts basis in connection with the Offering. As consideration for acting in such capacity, Wellington will receive a commission of 7% of gross proceeds on the portion of the Offering that is sold by the Agent and a further 3% of gross proceeds on the remainder of the Offering. Upon closing of the Offering, Wellington will receive a common share purchase warrant entitling Wellington to acquire a number of Series A Units equal to 10% of the Units sold to the public by Wellington plus 3% of the remainder of the Units sold to the public pursuant to this Offering (the “Broker Warrant”). The Broker Warrant will be exercisable for a period of 12 months following the closing of the Offering. Wellington will also be reimbursed for all reasonable expenses incurred in connection with the Offering.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy the units in any jurisdiction. The Units, Common Shares and the Warrants will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement.
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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 Filing of Preliminary Prospectus
Kenneth E. MacNeill, Chairman and CEO, is pleased to announce on behalf of the Board of Directors that the Corporation has filed a preliminary prospectus with respect to an offering of a minimum of $500,000 and a maximum of $3,000,000 of units of the Corporation (“Units”) with the securities commissions in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario (the “Offering”). The pricing of each Unit will be determined prior to the filing of a final prospectus. The Units offered will be Series A Units and Series B Units. Each Series A Unit will consist of one common share in the capital stock of the Corporation (a “Common Share”) and one-half of one common share purchase warrant (a “Warrant”), which will be exercisable into one Common Share for a period of 12 months from the date of issuance. Each Series B Unit will consist of one Common Share issued on a flow through basis and one-half of one Warrant. A maximum of $2,000,000 of gross proceeds will be derived from Series B Units. The closing of the offering is expected to occur in November 2001, subject to the receipt of all necessary regulatory approvals.
The Corporation has engaged Wellington West Capital Inc. (“Wellington”) to act as agent on a best efforts basis in connection with the Offering. As consideration for acting in such capacity, Wellington will receive a commission of 7% of gross proceeds on the portion of the Offering that is sold by the Agent and a further 3% of gross proceeds on the remainder of the Offering. Upon closing of the Offering, Wellington will receive a common share purchase warrant entitling Wellington to acquire a number of Series A Units equal to 10% of the Units sold to the public by Wellington plus 3% of the remainder of the Units sold to the public pursuant to this Offering (the “Broker Warrant”). The Broker Warrant will be exercisable for a period of 12 months following the closing of the Offering. Wellington will also be reimbursed for all reasonable expenses incurred in connection with the Offering.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy the units in any jurisdiction. The Units, Common Shares and the Warrants will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement.
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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
