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Gold/Mining/Energy : Flag Resources (FGR.A A)
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To: ali who wrote (3685)9/10/2001 10:49:08 AM
From: ali   of 4269
 
Stockwatch News
Flag Resources (1985) Ltd -
Flag to arrange private placement
Flag Resources (1985) Ltd FGR
Shares issued 17,919,600 Sep 5 2001 close $.130
Sep 7 2001 7:10:15

Mr. M.C. McLeod reports
Subject to regulatory approval, Flag Resources intends to issue by way of private placement one million units of Flag at a price of 15 cents per unit for total consideration of $150,000. Each unit will consist of one common share of Flag and one common share purchase warrant, each warrant entitling the holder to acquire one common share at a price of 15 cents per share on or before two years from the date of issuance.
Subject to regulatory approval, it is proposed to grant an option to Flag's president to purchase 125,000 Flag shares at 15 cents per share, exercisable until Sept. 5, 2004.

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