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Gold/Mining/Energy : GGFI-GUYANA GOLDFIELDS

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To: virginijus poshkus who wrote (150)	10/5/1997 9:03:00 PM
From: Aloysius Q. Finnegan	of 259

No mistake: Guyana Goldfields Inc - News Release $1m financing Guyana Goldfields Inc GGFI Shares issued 1,722,854 Oct 1 close $1.20 Fri 3 Oct 97 News Release Mr Patrick Sheridan Jr reports The company has agreed to a placement of 1.25 million units at $0.80 to raise $1 million. Each unit will consist of one share and a half warrant. One warrant will entitle the holder to purchase one share at $1.25 for 18 months. Closing is expected to occur next week. Of the $1 million raised, approximately $375,000 will be purchased by companies owned by the president of the company. Proceeds will be used to finance the company's phase 2 drilling program on its 100% owned Peters mine property, Guyana. Following the completion of this issue there will be 7,799,462 shares issued by the company. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

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