Post by Franko10 ™ on Sept 20, 2004 11:28:12 GMT -5
December 31, 2003
SHORE GOLD COMPLETES CLOSING OF FLOW-THROUGH PRIVATE PLACEMENT
Kenneth E. MacNeill, President and C.E.O. of Shore Gold Inc. ("Shore"), is pleased to announce the completion of its non-brokered private placement of an aggregate of 662,500 units of Shore at a price of $2.00 per unit for gross proceeds of $1,325,000 to subscribers resident in Alberta, Saskatchewan, Manitoba and Ontario. Each unit consists of one flow-through common share and one-half of one common share purchase warrant (a "Unit"). Each whole warrant exercisable into one common share for a period of 12 months from the closing date upon payment by the holder of $2.25 per common share.
Shore paid $36,000 in finder's fees, equal to 5% of the gross proceeds raised by a finder under the offering and issued 36,000 compensation warrants ("Compensation Warrants") equal to 10% of the number of Units sold by such finder pursuant to the offering. Each Compensation Warrant will entitle the holder to acquire one common share at an exercise price of $2.00 for a period of twelve (12) months following the closing date. All of the securities will be subject to a 4-month hold period in accordance with applicable securities laws.
Shore will use the proceeds from the private placement for the exploration of the Star Diamond project in the Fort a la Corne area of Saskatchewan.
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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 GOLD COMPLETES CLOSING OF FLOW-THROUGH PRIVATE PLACEMENT
Kenneth E. MacNeill, President and C.E.O. of Shore Gold Inc. ("Shore"), is pleased to announce the completion of its non-brokered private placement of an aggregate of 662,500 units of Shore at a price of $2.00 per unit for gross proceeds of $1,325,000 to subscribers resident in Alberta, Saskatchewan, Manitoba and Ontario. Each unit consists of one flow-through common share and one-half of one common share purchase warrant (a "Unit"). Each whole warrant exercisable into one common share for a period of 12 months from the closing date upon payment by the holder of $2.25 per common share.
Shore paid $36,000 in finder's fees, equal to 5% of the gross proceeds raised by a finder under the offering and issued 36,000 compensation warrants ("Compensation Warrants") equal to 10% of the number of Units sold by such finder pursuant to the offering. Each Compensation Warrant will entitle the holder to acquire one common share at an exercise price of $2.00 for a period of twelve (12) months following the closing date. All of the securities will be subject to a 4-month hold period in accordance with applicable securities laws.
Shore will use the proceeds from the private placement for the exploration of the Star Diamond project in the Fort a la Corne area of Saskatchewan.
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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