VGLD NEWS!!
VISA GOLD EXPLORATIONS INC.
41 Peter Street North,
Orilla, Ontario, L3V 4Y9
MEDIA RELEASE
For Immediate Release
September 23, 1999
Listed: CDN (Canadian Dealing Network) Current Price: $ 1.60 (Cdn)
Symbol: VGLD Shares Outstanding: 10,535,136
VISA GOLD EXPLORATIONS ANNOUNCES $1,125,000.00 PRIVATE PLACEMENT
Toronto, CANADA - The Hon. Doug Lewis, President of Visa Gold Explorations Inc.is pleased to announce a private placement of 500,000 Units at $2.25 for total proceeds of $1,125,000.00 to arm's length parties. Each unit consists of one common share and one common share purchase warrant. This warrant entitles the holder to purchase one additional common share at a price of $3.00 until September 30, 2000. The private placement is anticipated to close upon the completion of documentation, due diligence and is subject to regulatory approval.
These funds will provide additional working capital necessary for the recovery stage of the project. This stage will focus on our initial underwater targets.
Visa Gold Explorations Inc. through it's wholly-owned subsidiary, Visa Gold Resources Inc., is party to a joint venture agreement with Geomar S.A., a Cuban state-owned entity, to search for shipwrecks in two designated areas in the coastal waters of Cuba. Visa Gold has completed extensive archival research as to the potential shipwrecks in an area, which extends 70 kilometers west from Havana harbour. This stretch of sea is commonly known as Galleon Alley. Visa Gold's principal exploration targets are located, west of Havana, where a fleet of galleons went down in 1711.
For more information, contact:
Investor Relations: The Winfield Group
Tel: 416-745-9697, Fax: 416-740-7785; E-mail: winfield@iprimus
T A P has received a 30,000 share option agreement from Potter Financial for 3 months promotional services of VGLD.For a more information on VGLD and other T A P profiled companies go to T A P profile for url |
