Royal International Venture RIL.V (was Labrador Int'l LAB) Message Board

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Gold/Mining/Energy : Royal International Venture RIL.V (was Labrador Int'l LAB)

LAB 1.490

+3.1%

3:59 PM EST

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To: Ed Pakstas who wrote (443)	3/15/1998 11:29:00 PM
From: Peter J Smit	Read Replies (1) of 3380

Ed I was checking who did the financing for LAB in February....Union! Support from the the people putting up the bux? Regards February 27, 1998 Labrador International Mining Ltd. will not proceed with the financing announced on Feb. 3, 1998. The company has arranged a new placement with Union Securities for up to 4,500,000 special warrants at $0.225 per special warrant for total proceeds of $1,012,500. Each special warrant will entitle the holder to acquire one unit consisting of one share and one warrant and for no additional consideration to purchase one share for $0.225 the first year and $0.275 the second year. The company has agreed to pay Union Securities 6% of gross proceeds and has further agreed to issue class B warrants to purchase up to 600,000 shares at $0.275 for a period of two years. Funds will be used to finance Voisey Bay work, property acquisitions and exploration as well as for general administrative purposes.

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