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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge
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To: Carter B who wrote (11571)3/5/2003 7:37:29 PM
From: Al Collard   of 11802
 
UNO-v...in the news:

First Narrows arranges $220,000 private placement

Wed 5 Mar 2003

News Release

Mr. Peter Gummer reports

FIRST NARROWS RESOURCES CORP. ANNOUNCES PRIVATE PLACEMENT AND STOCK OPTION
GRANT
First Narrows Resources has arranged a non-brokered private placement of
1.1 million units offered at a price of 20 cents per unit, for proceeds
totalling $220,000. Each unit will consist of one common share and one-half
of one common share purchase warrant. One whole warrant will entitle the
holder thereof to purchase one additional common share for 25 cents per
share for a period of two years following the closing date of the offering.
The company intends to use the proceeds for general working capital
purposes.
The company has granted, subject to regulatory approval, incentive stock
options to directors and employees of the company to purchase a total of
520,000 common shares in the capital stock of the company. The options are
exercisable on or before March 5, 2008, at a price of 20 cents per common
share.
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