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Gold/Mining/Energy : Precious and Base Metal Investing
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To: Claude Cormier who wrote (739)12/5/2001 7:06:11 PM
From: Al Collard   of 39344
 
Sultan Minerals arranges $750,000 financing

Wed 5 Dec 2001

News Release

Mr. Arthur Troup reports
Sultan Minerals has entered into an agreement dated Dec. 5, 2001, with
Octagon Capital Corp. under which the agent will offer up to a total of
2,678,572 flow-through shares through the facilities of the Canadian
Venture Exchange for maximum proceeds of $750,000.
The agent will receive a commission equal to 10 per cent of the gross
proceeds received by Sultan from the sale of shares, payable in cash. The
agent will also receive a non-transferable compensation option in the
amount of 15 per cent of the units sold. Each of the agent's warrants is
exercisable for one common share in the capital of Sultan at a price of 28
cents, for a period lasting 12 months from the date of closing of the
offering.
Sultan will reimburse the agent for applicable legal and administrative
expenses incurred in connection with this offering.
The proceeds to be received by Sultan from the offering will be used by
Sultan to conduct additional exploration principally on its Kena project.
Some moneys will also be allocated to evaluation of its Jersey-Emerald
tungsten and lead/zinc project.
(c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com
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