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Gold/Mining/Energy : Exall Resources/Glimmer Resources
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To: Winzer who wrote (450)1/6/1998 7:11:00 PM
From: James N. Wilson  Read Replies (1) of 1319
 
$500,000 Financing completed

Glimmer Resources Inc
GME
Shares issued 5240412
Tuesday Jan 6 1998

Mr Richard McCloskey reports

The company has completed the previously announced private placement
of $500,000 principal amount of convertible debentures. The
convertible debentures bear interest at 8% and are convertible into
common shares on the basis of $1.10 principal amount in the first
year, $1.265 in the second year and $1.455 in the third year. The
convertible debentures are subject to a one year hold period. Glimmer
is a mining and mineral exploration company presently acknowledged to
hold a 34.47% interest in the Glimmer mine joint venture as well as
exploring and reviewing prospects in Ontario, Yukon Territory and the
US.
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