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Gold/Mining/Energy : Athlone Minerals Ltd.
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To: Condor who started this subject2/18/2004 7:36:05 PM
From: Condor  Read Replies (1) of 30
 
Athlone Minerals to raise $2,841,600 through financing

Athlone Minerals Ltd ATH
Shares issued 19,745,580 Feb 17 close $1.58
Wed 18 Feb 2004 News Release
Mr. Paul Reynolds reports
Athlone Minerals has negotiated a non-brokered private placement of 1.32
million units and 600,000 flow-through units at a price of $1.48 per unit
for gross proceeds of $2,841,600. Each unit will consist of one common
share and one common share purchase warrant. Each warrant can be exercised
to acquire one additional common (non-flow-through) share at an exercise
price of two dollars for one year.
Each flow-through unit will consist of one common share and one-half of one
common share purchase warrant. Each full warrant can be exercised to
acquire one additional common (non-flow-through) share at an exercise price
of two dollars for one year.
If after four months from closing, Athlone's share price closes at three
dollars or greater for a period of 10 consecutive trading days, Athlone
will give written notice to the warrant holders that the warrants will
expire if unexercised within 30 days of the notice. A finder's fee will be
payable on a portion of the units. The finances will be used to fund the
company's oil and gas exploration projects and for general working capital.
The private placement is subject to TSX Venture Exchange approval.
(c) Copyright 2004 Canjex Publishing Ltd. stockwatch.com
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