Erin Ventures EV.ASE Message Board

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Gold/Mining/Energy : Erin Ventures EV.ASE

EV 21.85

+0.3%

Apr 17 5:00 PM EST

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To: AH who wrote (486)	11/15/2001 3:43:32 PM
From: AH	Read Replies (1) of 523

They cancel the previous debt settlement to get a better one: ~$CAN3 for $CAN1. Go figure. Erin to raise $450,000 privately in unit financing Erin Ventures Inc EV Shares issued 23,105,095 Nov 14 close $0.31 Thu 15 Nov 2001 News Release Mr. Tim Daniels reports Erin Ventures has arranged a private placement of two million units at a price of 22.5 cents per unit for proceeds of $450,000. Each unit will consist of one common share and one share purchase warrant. Each warrant is exercisable into one common share at a price of 60 cents within the first six months from closing and a price of 75 cents for the following six-month period. No finder's fee is payable in connection with this transaction. The proceeds of the private placement will be used to settle outstanding indebtedness and for general working capital. The debt to be settled pursuant to this private placement is in the amount of $748,500 (U.S.), for which the creditor has agreed to accept $400,000 (Canadian) as full settlement of the debt. The company wishes to advise that it will not be proceeding with the debt settlement announced in Stockwatch on Oct. 23, 2001.

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