AH said ... "It seems that EV needs money and/or the US sanctions lifted."
Looks to me like they are trying to take care of the money part as we speak ...
Erin proposes $200,000 financing
Erin Ventures Inc
EV
Shares issued 21,611,450
2000-10-16 close $0.29
Tuesday Oct 17 2000
News Release
Mr. Blake Fallis reports
Erin Ventures proposes to carry out a private placement of up
to one million units at a price of 20 cents per unit, to raise up
to $200,000. The units will each consist of one common share
and one-half share purchase warrant. Each full warrant will
entitle the holder to purchase one additional common share at
50 cents per share for a period of one year. It is anticipated
that, of the possible proceeds, approximately $100,000 will be
used for general and administrative expenses and working
capital purposes, with the balance being applied to
exploration work on the corporation's mineral properties.
As for the lifting of US sanctions, some have already been lifted, and as far as I understand it, the US is working toward lifting the rest ASAP. I hope to get clarification of this issue at the upcoming AGM. In the meantime, according to their news release from yesterday ...
The operations of the joint company Ras Borati can continue as soon as all requisite updated documentation is filed, and permits are renewed with the proper Yugoslavian authorities.
and I am led to believe that the remaining sanctions that are still in place will not prevent Erin from immediately working to obtain that necessary documentation. |
