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Gold/Mining/Energy : MARUM RESOURCES ON ALBERTA
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To: Jesse who wrote (1987)8/12/1999 6:29:00 PM
From: George S. Montgomery  Read Replies (1) of 2514
 
Jesse: Because I don't know diddly, I am sending this NR to you and the thread. What it appears to be is a sign that they're really rolling up their sleeves and getting to work - immediately.

Subj: Stockwatch: International Tower Hill Mines Ltd - News Release
Date: 8/12/99 6:13:46 PM Eastern Daylight Time
From: newsout@canada-stockwatch.com
To: Patchen3@aol.com

Int'l Tower Hill to sell 750,000 units privately

International Tower Hill Mines Ltd ITH
Shares issued 7,228,850 Jul 28 close $0.40
Thu 12 Aug 99 News Release
Mr. Anton Drescher reports
The company has arranged a private placement of up to 750,000 units at 30
cents. Each unit consists of one share and one warrant, each one warrant
entitling the holder to purchase one additional share, exercisable for two
years from the date of payment for the units, exercisable at 30 cents, if
exercised during the first year, or at 35 cents, if exercised during the
second year.
The shares issued as part of the units and upon conversion of the warrants
are subject to a 12-month hold period from the date of payment for the
units.
The private placement proceeds received by the company will be used for a
property payment and exploration program on the company's joint venture
(International Tower Hill/Marum) Chinchaga project in northwestern Alberta
and general working capital.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com

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They're sort of 'mortgaging the farm' - ain't they?

geo

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