Post by Franko10 ™ on Jan 31, 2006 14:06:29 GMT -5
War Eagle Mining Company Inc.: $4,000,000 Private Placement
13:57 EST Tuesday, January 31, 2006
VANCOUVER, British Columbia (Business Wire) -- War Eagle Mining Company Inc. (the "Company") (TSX VENTURE:WAR) announces a financing of up to $4,000,000. The financing consists of up to 833,333 flow-through units at a price of $0.60 per unit and up to 7,000,000 non flow-through units at a price of $0.50 per unit, subject to the approval of the TSX Venture Exchange. Each flow-through unit will consist of one flow-thorough common share and one-half of one non flow-through share purchase warrant, each whole warrant entitling the holder to purchase one additional common share of the Company for a period of two years at a price of $0.80 per share. Each non flow-through unit will consist of one common share and of one share purchase warrant, each whole warrant entitling the holder to purchase one additional common share of the Company for a period of two years at a price of $0.60 per share.
Finders fees will be payable in either cash or units in accordance with the policies of the TSX Venture Exchange Inc.
The proceeds of the private placement will be used for the exploration of the Company's Tres Marias, Mexico, project and its George's Lake, Canada, project and for general working capital purposes.
War Eagle Mining Company's web site is available for viewing at www.wareaglemining.com.
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 responsibility for the adequacy or accuracy of this release.
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
13:57 EST Tuesday, January 31, 2006
VANCOUVER, British Columbia (Business Wire) -- War Eagle Mining Company Inc. (the "Company") (TSX VENTURE:WAR) announces a financing of up to $4,000,000. The financing consists of up to 833,333 flow-through units at a price of $0.60 per unit and up to 7,000,000 non flow-through units at a price of $0.50 per unit, subject to the approval of the TSX Venture Exchange. Each flow-through unit will consist of one flow-thorough common share and one-half of one non flow-through share purchase warrant, each whole warrant entitling the holder to purchase one additional common share of the Company for a period of two years at a price of $0.80 per share. Each non flow-through unit will consist of one common share and of one share purchase warrant, each whole warrant entitling the holder to purchase one additional common share of the Company for a period of two years at a price of $0.60 per share.
Finders fees will be payable in either cash or units in accordance with the policies of the TSX Venture Exchange Inc.
The proceeds of the private placement will be used for the exploration of the Company's Tres Marias, Mexico, project and its George's Lake, Canada, project and for general working capital purposes.
War Eagle Mining Company's web site is available for viewing at www.wareaglemining.com.
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 responsibility for the adequacy or accuracy of this release.
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