Owner
Post by Franko10 ™ on Sept 20, 2004 11:21:59 GMT -5
August 27, 2003
SHORE ANNOUNCES CLOSING OF SHORT-FORM FINANCING
Kenneth E. MacNeill, Chairman and Chief Executive Officer of Shore Gold Inc. ("Shore" or the "Company") is pleased to announce the closing of 1,904,000 units of Shore ("Units") at a price of $1.05 per Unit for gross proceeds of $2,000,000 (the "Offering"), which was completed pursuant to Shore’s previously announced short form offering. Each Unit consists of one common share (a "Common Share") and one-half of one common share purchase warrant of Shore, each whole warrant (a "Warrant") entitling the holder thereof to purchase one further Common Share at a price of $1.25 for a period of one year from the date of issue. The agent under the Offering, Canaccord Capital Corporation, was paid a cash commission equal to 8% of the gross proceeds received by Shore from the sale of the Units and an administration fee in the amount of $5,000 and was issued 190,400 agent’s series "A" warrants (being an amount equal to 10% of the gross number of Units sold), each of which is exercisable into one Common Share at a price of $1.20 per share for a period of one year from the date of issue, and 40,000 Units as payment of a corporate finance fee.
It is expected that closing of the private placement of up to 952,380 additional Units, as announced in the Company’s press release of August 6, 2003, will take place on or before September 4, 2003.
Shore will use the proceeds from the Offering for the purpose of further exploration and development of it’s 100% owned Star Kimberlite project located 60 kms east of Prince Albert, Saskatchewan. To the extent that this Offering raises in excess of the amount required for Shore’s bulk sampling program on its Star Kimberlite project, such funds will be allocated to general working capital.
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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 ANNOUNCES CLOSING OF SHORT-FORM FINANCING
Kenneth E. MacNeill, Chairman and Chief Executive Officer of Shore Gold Inc. ("Shore" or the "Company") is pleased to announce the closing of 1,904,000 units of Shore ("Units") at a price of $1.05 per Unit for gross proceeds of $2,000,000 (the "Offering"), which was completed pursuant to Shore’s previously announced short form offering. Each Unit consists of one common share (a "Common Share") and one-half of one common share purchase warrant of Shore, each whole warrant (a "Warrant") entitling the holder thereof to purchase one further Common Share at a price of $1.25 for a period of one year from the date of issue. The agent under the Offering, Canaccord Capital Corporation, was paid a cash commission equal to 8% of the gross proceeds received by Shore from the sale of the Units and an administration fee in the amount of $5,000 and was issued 190,400 agent’s series "A" warrants (being an amount equal to 10% of the gross number of Units sold), each of which is exercisable into one Common Share at a price of $1.20 per share for a period of one year from the date of issue, and 40,000 Units as payment of a corporate finance fee.
It is expected that closing of the private placement of up to 952,380 additional Units, as announced in the Company’s press release of August 6, 2003, will take place on or before September 4, 2003.
Shore will use the proceeds from the Offering for the purpose of further exploration and development of it’s 100% owned Star Kimberlite project located 60 kms east of Prince Albert, Saskatchewan. To the extent that this Offering raises in excess of the amount required for Shore’s bulk sampling program on its Star Kimberlite project, such funds will be allocated to general working capital.
--------------------------------------------------------------------------------
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
