Cadre Resources (CSL.V) Awaiting production #'s and Financ Message Board

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Gold/Mining/Energy : Cadre Resources (CSL.V) Awaiting production #'s and Financ

CSL 316.32

+3.7%

Nov 25 4:00 PM EST

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To: Francis R. Biscan Jr. who started this subject	2/13/2002 9:13:03 AM
From: KipferlMeister	Read Replies (1) of 1285

News of financing: Cadre arranges $200,000 (U.S.) financing Cadre Resources Ltd CSL Shares issued 7,707,715 Feb 12 2002 close $.400 Tuesday Feb 12 2002 News Release Mr. R. Page Chilcott reports Cadre Resources has negotiated a private placement for a total of one million units. The private placement units comprise one common share and one non-transferable share purchase warrant in the capital stock of the company at 20 U.S. cents per unit, to net the treasury $200,000 (U.S.). One share purchase warrant will entitle the placee to purchase one additional common share of the company for a period of 24 months from the date of the initial purchase, at 40 cents per share. A 10-per-cent finder's fee is payable on the transaction. The common shares and any shares issued on the exercise of the share purchase warrants forming a part of the units will be subject to a hold period, as consistent with the policies of the Canadian Venture Exchange and in accordance with all applicable securities laws and regulations. The proceeds of the private placement and from exercise of the warrants will be used to provide working capital, and to advance the company's business in Venezuela. Terms of the private placement transaction are subject to acceptance by the CDNX and any other regulatory authority having jurisdiction. The company has accepted the resignation of Campbell H. Pearson as a director and officer, effective immediately, due to regulatory conflicts of interest. Mr. Campbell will continue to act for the company in the capacity of a consultant. (c) Copyright 2002 Canjex Publishing Ltd. canada-stockwatch.com

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