Post by Franko10 ™ on Sept 20, 2004 11:14:26 GMT -5
February 10, 2003
SHORE GOLD ANNOUNCES THE FINAL APPROVAL OF C$1.875 MILLION
PRIVATE PLACEMENT WITH MAGMA DIAMOND RESOURCES LTD.
Jonathan Challis, President of Shore Gold Inc. ("Shore"), is pleased to announce that, further to the news release dated August 12, 2002, Shore Gold has received final TSX Venture Exchange approval of the C$1.875 million non-brokered private placement with Magma Diamond Resources Ltd. ("Magma"). The private placement consisted 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. Each purchase warrant being exercisable at a price of C$1.10 for 18 months. The comon shares and warrants issued to Magma will be subject to a four-month hold period. The company is delighted to welcome this significant new shareholder and believes that Magma's expertise will greatly assist with the 25,000 tonne bulk sample to be completed within 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.
--------------------------------------------------------------------------------
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 THE FINAL APPROVAL OF C$1.875 MILLION
PRIVATE PLACEMENT WITH MAGMA DIAMOND RESOURCES LTD.
Jonathan Challis, President of Shore Gold Inc. ("Shore"), is pleased to announce that, further to the news release dated August 12, 2002, Shore Gold has received final TSX Venture Exchange approval of the C$1.875 million non-brokered private placement with Magma Diamond Resources Ltd. ("Magma"). The private placement consisted 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. Each purchase warrant being exercisable at a price of C$1.10 for 18 months. The comon shares and warrants issued to Magma will be subject to a four-month hold period. The company is delighted to welcome this significant new shareholder and believes that Magma's expertise will greatly assist with the 25,000 tonne bulk sample to be completed within 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.
--------------------------------------------------------------------------------
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