NAXOS RESOURCES LTD.
409 - 808 Nelson Street
Vancouver, B.C., Canada
V6Z 2H2
(604) 669 - 8078
N E W S R E L E A S E (97-17)
Trading Symbol: NAXOF Date: September 19, 1997
Private Placement
Naxos Resources Ltd. ("Naxos") has negotiated, on September 15, 1997, a Private Placement financing comprising 160,000 units at US$5.00 per unit, for a total of US$800,000 to be used for working capital at the Franklin Lake Property. Each unit consists of one share and one share purchase warrant, exercisable at US$6.00 within two years.
Franklin Lake
Naxos is pleased to announce that they have purchased for US$20,000 the renewal of an option to buy out the 4% royalty from the original owners of the P+K Claims for a price of US$1,500,000. The option agreement has been renewed for a further three years.
DATED at Vancouver, British Columbia, the 19th day of September, 1997.
ON BEHALF OF THE BOARD
NAXOS RESOURCES LTD.
Per: "Jimmy John"
Jimmy John
President & CEO
All forward-looking statements made by Naxos involve material risks and uncertainties and are subject to change based on factors beyond Naxos' control. Accordingly, Naxos' future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Such factors include, without limitation, those described in Naxos' filings with the United States Securities and Exchange Commission. Naxos does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized. For further information, please contact our Investor Relations' Department at (603) 891-5743 or (702) 372-1712 or (913) 894-8509. |
