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Gold/Mining/Energy : AMBREX..AMBX OTC

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To: Don who wrote (67)	8/2/1997 1:16:00 AM
From: Don	of 196

TO ALL: NEWS Ambrex Mining Corp - Private placement completed Ambrex Mining Corp AMBX Shares issued 44500000 1997-08-01 close $0.11 Friday Aug 1 1997 Mr Bill Fisher reports The company has completed a $500,000 private placement at $0.10 per share to a group of arms' length investors. The proceeds from the financing, which was successfully achieved under difficult general market conditions, will be used to finance continuing activities related to its Aripuana base metal discovery in the state of Mato Grosso, Brazil and its four gold properties in that state. As previously announced, Bill Fisher will remain as president of the company until September 8, when newly-appointed president Patrick J. Burns assumes the post. Mr Fisher will remain as a member of the board of directors of Ambrex, thus ensuring continuity and a stable transitional period. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com old

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