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Gold/Mining/Energy : Daily News
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To: Wizzer who wrote (570)7/17/1998 3:00:00 PM
From: Kent C.  Read Replies (1) of 746
 
Jul 17 - GYR.ASE - $875,000 Raised via Private Placement

Friday Jul 17 1998
Mr. Bruce Costerd reports
The company has completed a private placement for $875,000. The private
placement consisted of 2,500,000 units at 35 cents. Each unit consisted of one
share and a warrant to purchase an additional share at 40 cents for two years. The
purchasers of the private placement were all directors and officers of the
company. The net proceeds will be used for exploration programs on the
company's mining properties in the Harp Lake and Okak Bay areas of Voisey's
Bay, Labrador, and general working capital.
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