Abitibi Mining - V.ABB Message Board

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Gold/Mining/Energy : Abitibi Mining - V.ABB

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To: Peter Hausmann who wrote ()	12/3/1996 3:03:00 AM
From: Essam Hamza	of 42

News Release Dec.2, 1996 Please find below a copy of the Company's latest news release for your perusal. If you have any questions, please feel free to contact our Investor Relations Department, Mr. Bill Basarab or Mr. Andrew Sloan at 604-689-859. Thank you very much. December 2, 1996 Symbol: A B B -VSE #35-96 PRIVATE PLACEMENT ================= Abitibi Mining Corp. has arranged a private placement for the purchase of up to 600,000 units at a price of $0.50 per unit for a total consideration of $300,000.00. Half of the units will consist of one flow-through share and one non-transferable and non-flow-through share purchase warrant. And 300,000 units will consist of one common share and one non-transferable warrant. Each warrant will entitle the holder to purchase one additional share at a price of $0.50 per share if exercised in the first year or at a price of $0.60 per share if exercised during the second year. The proceeds of this private placement will be used for general working capital and continuing exploration on the Company's mineral properties, including further drilling on the both the 144 Project (Band-Ore Joint Venture) and the Tannahill Project. The private placement is subject to the approval of the Vancouver Stock Exchange. On behalf of the Board of Directors, ABITIBI MINING CORP. "Victor G. Coulthard" Director

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