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Gold/Mining/Energy : Meteor Creek Resources Inc V.DDX
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To: The Osprey who wrote (46)6/13/2001 3:54:19 PM
From: The Osprey  Read Replies (1) of 67
 
Meteor Creek Resources Inc - News Release
Meteor Creek to raise $4.8-million
Meteor Creek Resources Inc ONG
Shares issued 13,501,432 2001-06-12 close $0.71
Wednesday Jun 13 2001 News Release

Mr. David Fisher reports
Meteor Creek Resources has signed an agency agreement with Brawley Cathers Limited to provide up to $4.8-million to complete Meteor Creek's Bear River No. 1 test well and to expand the company's exploration program in the Souris permit in Prince Edward Island. A total of $2-million of the $4.8-million maximum offering has been committed to by Brawley Cathers.
"This financing enhances our financial flexibility as we enter the most important phase of the Bear River project to date," said David Fisher, executive vice-president. "The completion engineering program for Bear River No. 1 has been finalized and we expect to begin work at the site by the end of June."
Under the terms of the agreement, up to six million Meteor Creek units will be sold at 80 cents each. The unit comprises one common flow-through share and one-half non-transferable share purchase warrant. Each full warrant entitles the holder to purchase one common share of Meteor Creek at a price of $1.15 up until Jan. 31, 2002.
This financing is intended to replace a previously announced proposed private placement.

(c) Copyright 2001 Canjex Publishing Ltd. canada-stockwatch.com

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