Post by Franko10 ™ on Sept 20, 2004 11:38:21 GMT -5
Sept 15, 2004
SHORE GOLD ANNOUNCES $25 MILLION EQUITY FINANCING
Kenneth E. MacNeill, President and C.E.O. of Shore Gold Inc. ("Shore") is pleased to announce that Shore has entered into an agreement to issue up to 11,363,636 units (each a "Unit") at a price of $2.20 per Unit for total gross proceeds to Shore of up to $25 million (the "Offering"). Each Unit will consist of one common share and one-half of one common share purchase warrant of Shore. Each full common share purchase warrant will entitle the holder to purchase one common share of Shore at an exercise price of $2.75 at any time on or prior to a date that is 12 months from the date of the closing date of the Offering, currently expected for September 28, 2004. The Units will be offered for sale to accredited investors on a best efforts basis by Loewen, Ondaatje, McCutcheon Limited and Canaccord Capital Corporation acting as agents for the Company.
Closing of the Offering is subject to certain customary conditions, including the execution of a definitive agency agreement and receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
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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".
This news release shall not constitute an offer to sell or the solicitation of any offer to buy securities in any jurisdiction. The shares and warrants have not been nor will be registered under the United States Securities Act of 1933, and they may not be offered or sold in the United States absent registration or an exemption from registration.
For further information, please contact Mr. Kenneth E. MacNeill, President and C.E.O. or George Sanders, Vice President Corporate Development at (306) 664-2202.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES.
SHORE GOLD ANNOUNCES $25 MILLION EQUITY FINANCING
Kenneth E. MacNeill, President and C.E.O. of Shore Gold Inc. ("Shore") is pleased to announce that Shore has entered into an agreement to issue up to 11,363,636 units (each a "Unit") at a price of $2.20 per Unit for total gross proceeds to Shore of up to $25 million (the "Offering"). Each Unit will consist of one common share and one-half of one common share purchase warrant of Shore. Each full common share purchase warrant will entitle the holder to purchase one common share of Shore at an exercise price of $2.75 at any time on or prior to a date that is 12 months from the date of the closing date of the Offering, currently expected for September 28, 2004. The Units will be offered for sale to accredited investors on a best efforts basis by Loewen, Ondaatje, McCutcheon Limited and Canaccord Capital Corporation acting as agents for the Company.
Closing of the Offering is subject to certain customary conditions, including the execution of a definitive agency agreement and receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
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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".
This news release shall not constitute an offer to sell or the solicitation of any offer to buy securities in any jurisdiction. The shares and warrants have not been nor will be registered under the United States Securities Act of 1933, and they may not be offered or sold in the United States absent registration or an exemption from registration.
For further information, please contact Mr. Kenneth E. MacNeill, President and C.E.O. or George Sanders, Vice President Corporate Development at (306) 664-2202.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES.