Abitibi Mining - V.ABB Message Board

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Gold/Mining/Energy : Abitibi Mining - V.ABB

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To: Mike Perras who wrote (31)	5/17/1997 11:34:00 AM
From: jerry simons	of 42

NEWS RELEASE May 15, 1997 Symbol: ABB-VSE #15-97 PRIVATE PLACEMENT Subject to regulatory approval, Abitibi Mining Corp. has arranged a private placement for the purchase of up to 620,000 units at a price of $0.35 per unit for a total consideration of up to $217,000.00. Each unit will consist of one common share and one non-transferable two-year full share purchase warrant. Each warrant will entitle the holder to purchase one additional share at a price of $0.45 per share if exercised in the first year or for $0.55 if exercised during the second year. Any shares acquired through this placement, or the exercise of the warrants, will be subject to a hold period ending May 15, 1998. The proceeds of this private placement will be used for working capital. On Behalf of the Board of Directors, ABITIBI MINING CORP. _______________________ James Villegas Director

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