Post by Franko10 ™ on Mar 27, 2006 14:40:35 GMT -5
Anglo Minerals Closes $787,500 Financing
11:57 EST Monday, March 27, 2006
CALGARY, ALBERTA--(CCNMatthews - March 27, 2006) - Anglo Minerals Ltd. (TSX VENTURE:ALM) is pleased to announce that the private placement previously announced by way of a press release dated January 20, 2006, has closed. Seven Hundred Fifty Thousand (750,000) common shares and Seven Hundred Fifty Thousand (750,000) "flow-through" common shares were issued at $0.50 and $0.55 per share, respectively, resulting in aggregate gross proceeds to Anglo of Seven Hundred Eighty Seven Thousand Five Hundred Dollars ($787,500.00). Union Securities Ltd. acted as agent in connection with the offering. The issued shares are subject to a four-month hold period which will expire on July 23, 2006.
Proceeds of the offering will be used to fund the winter 3-D seismic program to be completed on Anglo's Jansen Lake potash project and for general working capital.
Anglo will renounce Canadian Exploration Expenses and Flow-Through Mining Expenditures to subscribers who purchased "flow-through" common shares. Such subscribers will be entitled to claim deductions for income tax purposes in 2006.
FOR FURTHER INFORMATION PLEASE CONTACT:
Anglo Minerals Ltd. Todd Montgomery President (403) 228-0607
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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