Post by Franko10 ™ on Apr 22, 2005 19:10:31 GMT -5
War Eagle Mining Company Inc.: Private Placement (ccnm)
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 22, 2005) - War Eagle Mining Company Inc. (TSX VENTURE:WAR) War Eagle Mining Company Inc. (the "Company") is pleased to announce, subject to TSX Venture Exchange approval, a non-brokered private placement with accredited investors.
This placement will consist of 500,000 units at a price of CDN$0.30 per unit, for total proceeds to the Company of CDN$150,000. Each unit will consist of one common share and one non-transferable share purchase warrant. Each share purchase warrant will entitle the holder to purchase one additional common share of the Company for a period of one year at a price of CDN$0.30 per share.
The proceeds of the private placement will be used for general working capital. Finders fees and or commissions, in accordance with TSX Venture Exchange policies, may be paid in conjunction with this private placement.
Terence F. Schorn, P. Geo, President
War Eagle Mining Company Inc.
CUSIP. No. 933901209
FOR FURTHER INFORMATION PLEASE CONTACT:
War Eagle Mining Company Inc. Bob Faris Vice President, Corporate Development (604) 606-7973 or Toll Free: 1-800-877-1626 www.wareaglemining.com The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of the contents of the foregoing.
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