Post by Franko10 ™ on Oct 12, 2004 12:05:15 GMT -5
VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 12, 1996--CONS. PINE CHANNEL (VSE:KPG) -- Dale W. Hoffman, president of Consolidated Pine Channel Gold Corp. (the "company") is pleased to report that the private placement of 2,272,727 units at a price of $0.22 per unit, announced by news release dated July 25, 1996, has now been completed. Each unit consists of one common share (of which 1,590,909 are flow-through shares) and one warrant, each exercisable to purchase a further common share for $0.22 in the first year and for $0.26 in the second year.
Of the gross proceeds of $500,000 from this private placement, the $350,000 designated as flow-through will be utilized in the exploration of the company's Saskatchewan gold, massive sulphide and diamond projects. The balance, $150,000, has been allocated to general working capital. -0- CONSOLIDATED PINE CHANNEL GOLD CORP. Per: Dale W. Hoffman President
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of the content of this News Release.