FOR: SOUTHWESTERN RESOURCES CORPORATION
TSE SYMBOL: SWG
AND CANABRAVA DIAMOND CORPORATION
CDNX SYMBOL: CNB
DECEMBER 27, 2001 - 15:23 EST
Southwestern Resources Sells 2 Million Shares Of
Canabrava Diamond
VANCOUVER, BRITISH COLUMBIA--Southwestern Resources Corp. (SWG-T)
announced today that it has sold 2 million common shares of
Canabrava Diamond Corporation (CNB-CDNX) at $0.25 per share
through the facilities of the Canadian Venture Exchange.
Southwestern filed a Notice of Intention to Distribute Securities
in Form 45-102F3 dated December 18, 2001 regarding its intent to
sell Canabrava common shares. Southwestern now owns 17,980,550
common shares of Canabrava, representing 41% of Canabrava's
outstanding shares.
In a separate transaction, Southwestern has agreed to purchase
from Canabrava 2,000,000 units, each unit consisting of one common
share and one-half of a common share purchase warrant. Canabrava
is selling the units as part of a proposed private placement,
previously announced on December 10, 2001, which private placement
should close on December 28, 2001.
Southwestern Resources Corp. is a well-financed international
exploration company exploring for precious and base metals in
Peru, Chile, Argentina and China. Southwestern is also exploring
for diamonds in Canada and Brazil through its 41% owned
subsidiary, Canabrava Diamond Corporation.
Some of the statements in this news release contain
forward-looking information that involves inherent risk and
uncertainty affecting the business of the Company. Actual results
may differ materially from those currently anticipated in such
statements.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Southwestern Resources Corporation
John G. Paterson
President
(604) 669-2525
(604) 688-5175 (FAX)
Email: info@swgold.com
Website: www.swgold.com
or
Southwestern Resources Corporation
Thomas W. Beattie
VP Corporate Development
(604) 669-2525
(604) 688-5175 (FAX)
or
Canabrava Diamond Corporation
Rory O. Moore
President
(604) 669-2525
(604) 688-5175 (FAX)
Website: www.canabrava.ca
or
Canabrava Diamond Corporation
George H. Read
Vice President Exploration
(604) 669-2525
(604) 688-5175 (FAX) |
