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Gold/Mining/Energy : First Point Minerals (FPX-V)
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To: Ceedee who wrote (5)5/14/2002 9:15:00 PM
From: Al Collard  Read Replies (1) of 19
 
First Point Minerals closes $683,418 financing

Tue 14 May 2002

News Release

Mr. Peter Bradshaw reports

FIRST POINT MINERALS CORP. ANNOUNCES COMPLETION OF PRIVATE PL ...

First Point Minerals has completed and closed its private placement for
$750,000 on May 13, 2002. Golden Capital Securities acted as agent for the
offering announced in Stockwatch on Feb. 19, 2002. The placement was for
2.5 million units at 30 cents per unit. Each unit consists of one share and
one-half share purchase warrant. One full warrant will entitle the holder
to acquire one common share of the company at an exercise price of 30 cents
until May 13, 2003, and an exercise price of 35 cents until May 13, 2004.
The net proceeds of the issue of $683,418 will be primarily used to
continue exploration on the company's Cacamuya gold-silver project in
southern Honduras.
A second phase of mechanical trenching is in progress on the Cacamuya
property as a followup of the initial program for which results were
announced in March. The earlier successful program at the D5, D4 and Filo
Lapa targets is being expanded and mechanical trenching at Hilo Libre is
being initiated. This work, which is planned to prioritize drill targets,
is expected to be finished by mid-June. Drilling is anticipated to follow
in July or August.
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