MAE-t...in the news:
Miramar closes $3.45-million flow-through financing
Tue 24 Dec 2002
News Release
Mr. Tony Walsh report
MIRAMAR COMPLETES $3.45 MILLION FLOW-THROUGH FINANCING
Miramar Mining has completed the financing announced in Stockwatch on Nov.
29, 2002. On Dec. 19, 2002, Miramar completed the sale by way of private
placement to Canadian investors of 2,306,699 flow-through common shares at
$1.50 per share for gross proceeds of $3.45-million. Proceeds will be used
to finance the deep drilling program for the Boston deposit at Hope Bay, as
announced in Stockwatch on Dec. 9, 2002. "This financing allows us to
commit the funding to the Boston deep drilling program at the Hope Bay
project in Nunavut, including up to 9,000 metres of core drilling planned
for 2003. This program is warranted by the scale of the Boston gold system
and its potential persistence to depth, a typical feature of many Archean
shear-hosted gold deposits," said Tony Walsh, Miramar's president and chief
executive officer. The common shares issued under the offering are subject
to the applicable statutory hold periods. The common shares have not been
registered under the United States Securities Act of 1933, as amended, or
the securities laws of any state, and have not been offered or sold in the
United States or to U.S. persons without registration. |
