Post by Franko10 ™ on Sept 20, 2004 11:12:12 GMT -5
August 21, 2002
SHORE GOLD ANNOUNCES C$1.875 MILLION PRIVATE PLACEMENT WITH MAGMA DIAMOND RESOURCES LTD.
Jonathan Challis, President, is pleased to announce that Shore Gold has closed a C$1.875 million private placement with Magma Diamond Resources Ltd., subject to Exchange and regulatory approval. The private placement consists of 2.5 million units at a price of C$0.75 per unit - each unit consisting of one common share and one share purchase warrant, exercisable at a price of C$1.10 for 18 months from the date of closing. The company is delighted to welcome this significant new shareholder and believes that Magma's expertise will greatly help in completing the proposed 25,000 tonne bulk sample over the next 12 months.
Magma is a newly formed company whose sole purpose is equity and debt participation in diamond mining and exploration projects worldwide, and the adding of value to these projects through the provision of technical and marketing expertise. The shareholders of Magma are: * BSG Investments - the majority shareholder of Magma. The principal of BSG, Benny Steinmetz, is an international investor with extensive investments in diamonds, natural resources, engineering, real estate; * Bateman - the world's foremost provider of process and recovery expertise and equipment to the diamond mining industry. Bateman also has extensive in-house capability in the preparation of diamond mining feasibility studies and project financing; * The Steinmetz Diamond Group - one of the world's largest integrated diamond marketing and trading companies with offices in Antwerp, Tel Aviv, Mumbai, Johannesburg, New York and Chicago; * Brian Menell - the CEO of Magma who has 14 years of experience in the diamond marketing, mining and exploration industries, including eight years with the De Beers Group and three years as an executive director of Anglovaal Mining Ltd.
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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 C$1.875 MILLION PRIVATE PLACEMENT WITH MAGMA DIAMOND RESOURCES LTD.
Jonathan Challis, President, is pleased to announce that Shore Gold has closed a C$1.875 million private placement with Magma Diamond Resources Ltd., subject to Exchange and regulatory approval. The private placement consists of 2.5 million units at a price of C$0.75 per unit - each unit consisting of one common share and one share purchase warrant, exercisable at a price of C$1.10 for 18 months from the date of closing. The company is delighted to welcome this significant new shareholder and believes that Magma's expertise will greatly help in completing the proposed 25,000 tonne bulk sample over the next 12 months.
Magma is a newly formed company whose sole purpose is equity and debt participation in diamond mining and exploration projects worldwide, and the adding of value to these projects through the provision of technical and marketing expertise. The shareholders of Magma are: * BSG Investments - the majority shareholder of Magma. The principal of BSG, Benny Steinmetz, is an international investor with extensive investments in diamonds, natural resources, engineering, real estate; * Bateman - the world's foremost provider of process and recovery expertise and equipment to the diamond mining industry. Bateman also has extensive in-house capability in the preparation of diamond mining feasibility studies and project financing; * The Steinmetz Diamond Group - one of the world's largest integrated diamond marketing and trading companies with offices in Antwerp, Tel Aviv, Mumbai, Johannesburg, New York and Chicago; * Brian Menell - the CEO of Magma who has 14 years of experience in the diamond marketing, mining and exploration industries, including eight years with the De Beers Group and three years as an executive director of Anglovaal Mining Ltd.
--------------------------------------------------------------------------------
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