Marum completes private placement [as does ITH: posted also-- see end]
Marum Resources Inc MMU
Shares issued 23,590,116 Sep 29 close $0.17
Thu 30 Sept 99 News Release
An anonymous director reports
The company has completed the private placement described in Stockwatch
June 1, and July 13, 1999. As announced, the private placement originally
consisted of up to 2.75 million units at a price of 10 cents per unit, each
unit being one common share and one common share purchase warrant entitling
the holder to acquire an additional common share of the company for a two
year period at a price of 10 cents per share. Up to 50 per cent of the
units are designated as flow-through units. The company subsequently
received Alberta Stock Exchange approval to increase the private placement
to 3.5 million units with the incremental 750,000 units carrying a price of
10 cents per share and a warrant at 13 cents per share. No commission or
finder's fee is payable.
Proceeds of $350,000 from the private placement has and will be used
primarily for exploration activities on the company's Chinchaga diamond
project in Northern Alberta.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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MMU Website: marumresources.com
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- Hopefully, now, things'll soon start swingin'...
Regards,
-j
:>
PS,
Just received this also, re. one of MMU's Chinchaga jv partners:
Int'l Tower Hill completes private placement
International Tower Hill Mines Ltd ITH
Shares issued 7,228,850 Sep 17 close $0.47
Thu 30 Sept 99 News Release
Mr. Anton Drescher reports
Further to company news in Stockwatch Aug. 12, 1999, the company has
received regulatory acceptance with respect to a private placement of
733,333 units and 16,667 shares. Each unit consists of one share and one
warrant to purchase an additional share for two years at 30 cents during
the first year or at 35 cents per share during the second year. The 750,000
and 733,333 warrants forming part of the units have now been issued to the
private placees. The shares forming part of the units and any shares issued
upon conversion of the warrants are subject to a hold period expiring Sept.
16, 2000.
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 |
