Post by Franko10 ™ on Sept 20, 2004 11:13:34 GMT -5
December 4, 2002
SHORE GOLD ANNOUNCES CLOSING OF PRIVATE PLACEMENT
Kenneth E. MacNeill, Chairman and Chief Executive Officer of Shore Gold Inc. ("Shore"), is pleased to announce that Shore has completed the first closing of its previously announced brokered private placement of units ("Units") of Shore (the "Offering") with the issuance of 1,110,553 Units at a price of $0.90 per Unit to subscribers resident in British Columbia and Ontario for gross proceeds of $999,500. Each Unit consists of one flow-through common share and one-half of one common share purchase warrant. Each whole warrant is exercisable into one common share on or before December 4, 2003 upon payment by the holder of $1.10 per common share. Pursuant to an agency agreement entered into between Shore and Kingsdale Capital Markets Inc. and Kingsdale Capital Partners Inc. (collectively, the "Agent") of Toronto, Ontario, Shore paid a cash commission to the Agent in the amount of $99,950 and issued 111,055 warrants ("Agent's Warrants") to the Agent. Each Agent's Warrant entitles the Agent to acquire one Common Share at an exercise price of $0.90 per share on or before December 4, 2003.
All of the securities issued today are subject to 4-month hold periods in accordance with applicable securities laws. It is expected that the final closing of the Offering will occur on or before December 11, 2002. Shore will use the proceeds from the Offering for the purpose of further exploration and development of the Corporation's 100%-owned Star Kimberlite project located 60 kilometres 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
SHORE GOLD ANNOUNCES CLOSING OF PRIVATE PLACEMENT
Kenneth E. MacNeill, Chairman and Chief Executive Officer of Shore Gold Inc. ("Shore"), is pleased to announce that Shore has completed the first closing of its previously announced brokered private placement of units ("Units") of Shore (the "Offering") with the issuance of 1,110,553 Units at a price of $0.90 per Unit to subscribers resident in British Columbia and Ontario for gross proceeds of $999,500. Each Unit consists of one flow-through common share and one-half of one common share purchase warrant. Each whole warrant is exercisable into one common share on or before December 4, 2003 upon payment by the holder of $1.10 per common share. Pursuant to an agency agreement entered into between Shore and Kingsdale Capital Markets Inc. and Kingsdale Capital Partners Inc. (collectively, the "Agent") of Toronto, Ontario, Shore paid a cash commission to the Agent in the amount of $99,950 and issued 111,055 warrants ("Agent's Warrants") to the Agent. Each Agent's Warrant entitles the Agent to acquire one Common Share at an exercise price of $0.90 per share on or before December 4, 2003.
All of the securities issued today are subject to 4-month hold periods in accordance with applicable securities laws. It is expected that the final closing of the Offering will occur on or before December 11, 2002. Shore will use the proceeds from the Offering for the purpose of further exploration and development of the Corporation's 100%-owned Star Kimberlite project located 60 kilometres 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