OU, news out on your pick MPG-v:
Masuparia Gold Corporation - Private Placement Arranged
Vancouver, British Columbia --
Masuparia Gold Corporation (MPG.V) is pleased to announce that it
has arranged a private placement for $250,000 whereby it will issue
2,500,000 units at $0.10 per unit. Proceeds from this financing
will be added to the Company's working capital and will be used
primarily to execute the drilling program designed for the
Greywacke property in Saskatchewan.
Each private placement will consist of one Masuparia common share
and one two-year common share purchase warrant. The warrant will
entitle the holder to acquire one additional common share at $0.11
per share for a period of two years from the date the private
placement closes.
The private placement is subject to the approval of the Canadian
Venture Exchange (the "Exchange"). A finder's fee will apply to
this financing in accordance with the policies of the Exchange.
In other news, the Company has appointed Amisano Hanson, Chartered
Accountants of Vancouver, British Columbia, as its new auditors. A
Reporting Package pursuant to National Policy 31 will be submitted
to the British Columbia and Alberta Securities Commissions.
With the proceeds from the private placement, the Company is
sufficiently funded to continue its active drill program on the
Greywacke Property (optioned from Shane Resources and JNR
Resources). Success to date on the property has prompted the
Company to expand its drill program by 2,500 meters, which will be
funded by the current financing. The Company presently has
approximately $700,000 in the treasury, $100,000 of which is
allocated for the current drill program of 1,000 meters. The
Company intends to maintain a healthy working capital position so
that it can continue to fund an aggressive exploration program and
to review new opportunities. |
