Any Good Penny Resources Left? Message Board

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Gold/Mining/Energy : Any Good Penny Resources Left?

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To: TomKing who wrote (729)	7/18/1998 8:03:00 AM
From: Bill McCabe	of 753

Here is a great opportunity with super potential. Porcher Island Gold (PIG.V). Private Placement Announced July 10, 1998 News Release Porcher Island Gold Corporation has arranged the private placement of 1,333,333 Special Warrants to net the company $200,000 subject to regulatory acceptance. A 10% commission is payable in Special Warrants. Each Special Warrant is convertible, at no additional cost to the placee, into one common share and one common share purchase warrant. Each share purchase warrant will entitle the placee to purchase an additional common share at $0.15 per share in the first year and $0.175 per share in the second year. The Special Warrants will be automatically converted to common shares and common share purchase warrants on the earlier of eleven months from the commitment date (the date the subscription agreement is signed) or the date an Annual Information Form for the company is receipted. The proceeds of the private placement will be applied to advance the acquisition of the Slovakian silver mine project and for working capital. Further, it has been informally reported to the company that Zelba A.S. has been advised by the Ministry that final approval of their privatization from Zelba A. S. to Union Zelba A. S. has been granted. Porcher Island Gold can now move forward to implement completion of the joint venture agreement with Union Zelba A. S. ON BEHALF OF THE BOARD OF DIRECTORS OF PORCHER ISLAND GOLD CORPORATION "Lawrence D. Barr" Lawrence D. Barr President The Vancouver Stock Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of the contents hereof. Bill McCabe

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