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Post by Franko10 ™ on Apr 5, 2005 16:09:03 GMT -5
War Eagle Mining Company Inc.: Private Placement Closed
09:30 EDT Tuesday, April 05, 2005
VANCOUVER, British Columbia (Business Wire) -- War Eagle Mining Company Inc. (TSX VENTURE:WAR) (the "Company") announces that it has closed a non-brokered private placement of 1,000,000 units of the Company at a price of $0.20 per unit for total gross proceeds of $200,000. Each unit consists of one common share and one-half of one non-transferable share purchase warrant, with each whole warrant entitling the holder thereof to purchase an additional common share for a period of two years at a price of $0.30 per share. There are no finder's fees payable.
The shares and any shares issued on the exercise of the warrants are subject to hold periods expiring on August 1, 2005.
The Company further announces that there are currently 2,085,077 share purchase warrants outstanding at an exercise price of $0.45 per warrant expiring on March 1, 2006 pursuant to a private placement. The Company has agreed to reprice the warrants at $0.30 per warrant. The application to reprice the warrants is subject to the warrantholders' approval and TSX Venture Exchange Inc. consent, and the Company makes no assurance that the required approval and consent for the repricing will be granted. The expiry date of the warrants remains the same.
Terence F. Schorn, P. Geo., President
War Eagle Mining Company Inc.
CUSIP. No. 933901209
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of the contents of the foregoing.
War Eagle Mining Company Inc. (TSX VENTURE:WAR)
War Eagle Mining Company Inc.
Bob Faris
Vice President, Corporate Development
(604) 606-7973 or Toll Free: 1-800-877-1626
www.wareaglemining.com
09:30 EDT Tuesday, April 05, 2005
VANCOUVER, British Columbia (Business Wire) -- War Eagle Mining Company Inc. (TSX VENTURE:WAR) (the "Company") announces that it has closed a non-brokered private placement of 1,000,000 units of the Company at a price of $0.20 per unit for total gross proceeds of $200,000. Each unit consists of one common share and one-half of one non-transferable share purchase warrant, with each whole warrant entitling the holder thereof to purchase an additional common share for a period of two years at a price of $0.30 per share. There are no finder's fees payable.
The shares and any shares issued on the exercise of the warrants are subject to hold periods expiring on August 1, 2005.
The Company further announces that there are currently 2,085,077 share purchase warrants outstanding at an exercise price of $0.45 per warrant expiring on March 1, 2006 pursuant to a private placement. The Company has agreed to reprice the warrants at $0.30 per warrant. The application to reprice the warrants is subject to the warrantholders' approval and TSX Venture Exchange Inc. consent, and the Company makes no assurance that the required approval and consent for the repricing will be granted. The expiry date of the warrants remains the same.
Terence F. Schorn, P. Geo., President
War Eagle Mining Company Inc.
CUSIP. No. 933901209
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of the contents of the foregoing.
War Eagle Mining Company Inc. (TSX VENTURE:WAR)
War Eagle Mining Company Inc.
Bob Faris
Vice President, Corporate Development
(604) 606-7973 or Toll Free: 1-800-877-1626
www.wareaglemining.com
