Post by Franko10 ™ on Sept 20, 2004 11:22:56 GMT -5
September 9, 2003
SHORE ANNOUNCES CLOSING OF PRIVATE PLACEMENT
Kenneth E. MacNeill, Chairman and Chief Executive Officer of Shore Gold Inc. ("Shore" or the "Company"), is pleased to announce the closing of a private placement of 952,380 units of Shore ("Units") at a price of $1.05 per Unit for gross proceeds of $1,000,000 (the "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 on or before September 9, 2004. 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 was issued 95,238 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 on or before September 9, 2004. All of the aforementioned securities are subject to a four-month hold period under applicable securities laws, which will expire on January 10, 2004.
Shore will use the proceeds from the Offering for the purpose of further exploration and development of its 100%-owned Star Kimberlite project located 60 kilometres 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) 664-220
SHORE ANNOUNCES CLOSING OF PRIVATE PLACEMENT
Kenneth E. MacNeill, Chairman and Chief Executive Officer of Shore Gold Inc. ("Shore" or the "Company"), is pleased to announce the closing of a private placement of 952,380 units of Shore ("Units") at a price of $1.05 per Unit for gross proceeds of $1,000,000 (the "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 on or before September 9, 2004. 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 was issued 95,238 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 on or before September 9, 2004. All of the aforementioned securities are subject to a four-month hold period under applicable securities laws, which will expire on January 10, 2004.
Shore will use the proceeds from the Offering for the purpose of further exploration and development of its 100%-owned Star Kimberlite project located 60 kilometres 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) 664-220