Exall Resources/Glimmer Resources Message Board

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Gold/Mining/Energy : Exall Resources/Glimmer Resources

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To: James N. Wilson who wrote (1043)	8/27/1999 3:08:00 PM
From: Winzer	Read Replies (1) of 1319

<<what are the terms of the acquisition? Did I miss that in the PR?>> "Exall also announces today that over the last 18 months the company has successfully negotiated a contiguous land package which may contain the down dip extension of the Glimmer Mine orebody. This ground is held 100 per cent by Exall and gives the company an unencumbered asset for future development. Prior to the negotiations with the land owners,>> I see the operative word here as being , "may contain...... Market not too enthused with PR or protracted litigation. I do hope that the insiders learnt their lesson. i.e. those who bough in anticipation of the announcement of the "contiguous land package... Contigious could also mean 1 hectare! The costs should be as per funds acquired: "Exall Resources completes private placement Exall Resources Limited EXL Shares issued 28,360,919 1999-05-06 close $0.31 Friday May 7 1999 Mr. Stephen Roman reports The company has declared that it closed a private placement of unsecured convertible debentures with three purchasers. Under the terms of the private placement, each placee purchased a convertible debenture in the principal amount of $150,120, convertible at the rate of $0.27 per share into shares of Exall, or 556,000 shares per convertible debenture. The convertible debenture also carries an interest rate of 10 per cent, and principal and interest is payable by the company one year from the date of issuance. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com Winzer

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