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Gold/Mining/Energy : EET Etruscan Enterprises T

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From: Cal Gary	8/3/2005 9:05:46 PM
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Etruscan arranges $5-million private placement Etruscan Resources Inc (TSX:EET) Shares Issued 68,188,020 Last Close 8/2/2005 $1.45 Wednesday August 03 2005 - News Release Mr. Richard Gordon reports ETRUSCAN RESOURCES INC. ANNOUNCES $5 MILLION DOLLAR BROKERED FINANCING Etruscan Resources Inc. has entered into an agreement with Sprott Securities Inc. pursuant to which the agent agrees to act as agent, on a best efforts basis, for an offering of 3,703,704 units, at a price of $1.35 per unit for total proceeds to Etruscan Resources of $5-million. Each unit will consist of one common share and one-half common share purchase warrant. Each whole warrant will entitle the holder to acquire a common share at a price of $1.75 for a period of 18 months. The offering is scheduled to close on or about Aug. 19, 2005, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the Toronto Stock Exchange. © 2005 Canjex Publishing Ltd.

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