Darnley Bay Resources - DBL. VSE Message Board

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Gold/Mining/Energy : Darnley Bay Resources - DBL. VSE

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To: Claude Cormier who wrote (208)	5/12/2000 3:50:00 PM
From: Condor	of 221

Darnley Bay arranges financing Darnley Bay Resources Ltd DBL Shares issued 19,038,492 May 11 close $2.50 Fri 12 May 2000 Mr. Leon La Prairie reports The company has negotiated, subject to regulatory acceptance, a private placement of $300,000 consisting of 141,510 special warrants at a price of $2.12 per special warrant. Each special warrant is exchangeable into one common share and one share purchase warrant, with each share purchase warrant to entitle the holder to purchase one additional (flow-through) common share at a price of $2.50 up to May 11, 2001. The funds from this private placement of special warrants will be released to the company on the closing of the private placement and will not be held in escrow until a receipt is issued for a prospectus qualifying the underlying securities. The special warrants do not include any penalty clauses. The proceeds of this private placement will be used for working capital and to explore the company's resource property at Paulatuk, Northwest Territories. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com

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