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Gold/Mining/Energy : Athlone Minerals Ltd.
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To: Jim Willie CB who wrote (11)3/13/2004 10:50:13 AM
From: Condor  Read Replies (1) of 30
 
Athlone Minerals reprices $3.3-million financing

2004-03-12 18:32 ET - News Release

Mr. Paul Reynolds reports

PRIVATE PLACEMENT RE-PRICED

Athlone Minerals has renegotiated the price of the non-brokered private placement reported in Stockwatch on Feb. 18, 2004. The company has negotiated a non-brokered private placement of 1,443,800 units and 1,099,663 flow-through units at a price of $1.30 per unit for gross proceeds of $3,306,502. Each unit will consist of one common share and one common share purchase warrant. Each warrant can be exercised to acquire one additional common (non-flow-through) share at an exercise price of $2 for one year.

Each flow-through unit will consist of one common share and one-half of one common share purchase warrant. Each full warrant can be exercised to acquire one additional common (non-flow-through) share at an exercise price of $2 for one year.

If after four months from closing, Athlone's share price closes at $3 or greater for a period of 10 consecutive trading days, Athlone will give written notice to the warrantholders that the warrants will expire if unexercised within 30 days of the notice. A finder's fee will be payable on a portion of the units. The proceeds will be used to finance the company's oil and gas exploration projects, and for general working capital. The private placement is subject to TSX Venture Exchange approval.
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