Completion Of Private Placement
TAGALDER INC ("TAGI-Z") REGAL GOLDFIELDS LTD ("REGL-Z") - Completion Of Private Placement
Tagalder Incorporated (Tagalder) announces that it has recently completed subscriptions for a private
placement pursuant to an Offering Memorandum dated February 27, 1998. Under the terms of the
Offering Memorandum the Company was permitted to offer up to a maximum of 14,000,000 shares at
4c per share to a limited number of potential investors. All shares distributed under this agreement are
restricted from trading for a period of eighteen months.
A total of 12,959,998 shares were subscribed for with net proceeds from distribution totaling $518,400.
Funds received will be used to reduce the current debt of the Company; finance a visit to the embryo
transfer joint venture operation in Tieling in late autumn by management to evaluate the current
program; and for general corporate purposes.
The exploration program, previously announced July 23rd, optioned to Regal Goldfields Inc. on the
Labrador property is proceeding on schedule. The Company hopes to have results available early in
October. TEL: (905) 795-4040
Tagalder Incorporated, Murray Eades FAX: (905) 564-2315
This obviously has occurred subsequent to:
Tagalder Incorporated - Regal Goldfields To Spend $250,000 On Tagalder's
1998 Kiglapait/Labrador Nickel Exploration Prog
TORONTO, ONTARIO - Tagalder Incorporated today announced that
Regal Goldfields will spend $250,000 to finance Tagalder's 1998
exploration program on its Labrador nickel-copper-cobalt
exploration properties. Regal will earn a 25 percent interest in
the properties and has the right to spend an additional $1.5
million on exploration in 1999 and 2000, for which it can earn an
additional 50 percent. The agreement between Regal and Tagalder
supersedes a funding agreement announced April 21, 1998, between
Tagalder and a group of private investors.
Tagalder's Kiglapait properties comprise 277 claims over 6,925 ha
and are located approximately 100 km northeast of the original
Voisey's Bay nickel-copper discovery. The claim group, while
almost completely overlain by the Labrador Sea, is interpreted to
cover part of the basal portion of the Kiglapait Intrusion, one of
a series of troctolitic intrusions belonging to the Nain Plutonic
Suite. Tagalder controls 14 km of strike length along the basal
portion of the Kiglapait Intrusion. The remainder of the
intrusion, currently controlled by Inco, was staked by Diamond
Fields Resources after its Voisey's Bay discovery as it has a
geological structure very similar to that of Voisey's Bay.
The 1998 exploration program will focus on the significant
anomalies delineated by a 1996 aerial magnetometer survey. Watts,
Griffis and McOuat Limited, Consulting Geologists and Engineers,
will carry out the exploration work which includes: initial
reconnaissance to map and sample the basal part of the intrusion
as exposed along the shore and on the small islands in the claims;
confirmation of drill sites in the vicinity of the magnetic
anomalies; an initial 400 m diamond drillhole to test the basal
part of the intrusion in the area of one of the magnetic
anomalies; and a down-hole EM survey to explore for the presence
of off-hole conductors. Funding is available for additional
drilling should initial drill results merit further work.
Tagalder is also negotiating the financing of its commercial-scale
cattle embryo transfer and dairy project in Northern China
designed to produce high-quality beef, dairy products and breeding
stock. In anticipation of the expansion of its successful pilot
project, Tagalder is pleased to announce the appointment of two
new members to its Board of Directors: George Mitrovich, President
of ProForma Consulting, has extensive experience in the
manufacture and distribution of food products, and Albert Brown is
a Senior Director of J.J. Barnicke Limited. Gary Lovie and Herb
Lee have resigned as Directors, however Gary Lovie will remain
active with the company as Vice President.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Tagalder Incorporated
Lisa Murray
(416) 861-8166
(416) 864-1675 (FAX)
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