|
Post by Franko10 ™ on Sept 20, 2004 11:27:01 GMT -5
November 14, 2003
SHORE COMPLETES FIRST CLOSING OF PRIVATE PLACEMENT
Kenneth E. MacNeill, President and Chief Executive Officer of Shore Gold Inc. ("Shore"), is pleased to announce the completion of the first closing of its non-brokered private placement of an aggregate of 294,118 units of Shore at a price of $1.70 per unit for gross proceeds of $500,000. Each unit consists of one common share and one-half of one common share purchase warrant, with each whole warrant exercisable into one common share for a period of 12 months from November 7, 2003 upon payment by the holder of $2.10 per common share. All of the securities will be subject to a 4- month hold period in accordance with applicable securities laws.
Shore anticipates a further closing under the private placement, which will not exceed a maximum of 1 million units in total, sometime next week.
--------------------------------------------------------------------------------
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
|
|