Attention Business Editors:
Shore Announces $500,000 Flow-Through Private Placement
Stock Symbol: SGF: CDNX
SASKATOON, Nov. 14 /CNW/ - Jonathan Challis, President, is pleased to
announce a non-brokered private placement of 1,111,111 units of Shore Gold at
a price of $0.45 per unit for gross proceeds of $500,000, to be placed to an
insider of the company. Each unit will consist of one flow-through common
share and one-half of one common share purchase warrant, each whole warrant is
to be exercisable into one common share for a period of 18 months from closing
of the private placement upon payment by the holder of $0.75 per common share.
The private placement is subject to regulatory and stock exchange approval.
The Company will use the proceeds from the private placement for ongoing
exploration activities on its Star kimberlite project, located 60 kms east of
Prince Albert, Saskatchewan.
Shore is a Canadian-based corporation engaged in the acquisition,
exploration and development of mineral properties. Shares of the Company trade
on the Canadian Venture Exchange under the trading symbol "SGF".
"The Canadian Venture Exchange has neither approved nor disapproved the
information contained herein."
-0- 11/14/2000
For further information: Canada: Kenneth E. MacNeill, CEO at (306) 664-2202; Europe: Jonathan Challis, President at
011-44-1732-465174 |
