Post by Franko10 ™ on Jan 10, 2005 21:35:18 GMT -5
ANGLO MINERALS LTD. December 29, 2004 TSXV Symbol: ALM NEWS RELEASE For Immediate Release: ANGLO MINERALS LTD. – CORPORATE UPDATE Calgary – Anglo Minerals Ltd. (TSXV – ALM) is pleased to announce that all matters placed before its shareholders at the annual general and special meeting held on December 21, 2004 were unanimously approved. Accordingly, the conditions precedent to the previously announced option granted by Anglo to Synenco Energy Inc. have now been satisfied. Anglo has agreed to extend the dates for each of Synenco's payments under the option agreement for 2 months, with the first payment of $975,000.00 being due on January 15, 2005. Synenco has no obligation to exercise the option. Anglo was unable to close its previously announced (November 2, 2004) private placement. The corporation has now completed, subject to regulatory approval, the issuance of 1,000,000 common shares at $0.05 per share by way of a non-brokered private placement, for gross proceeds of $50,000.00. The proceeds of the private placement will be used for the reduction of existing indebtedness and for general working capital. Anglo Minerals Ltd. is pleased to announce the addition of Mr. Brent Walter to its Board of Directors. Mr. Walter is a lawyer practicing in Calgary, Alberta. The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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