Emgold-Lang Mining Group Message Board

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Gold/Mining/Energy : Emgold-Lang Mining Group

EMR 132.41

-3.9%

Nov 5 3:59 PM EST

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To: Intrepid1 who wrote (15)	8/14/1998 8:51:00 AM
From: Mr Metals	Read Replies (1) of 77

NEWS RELEASE Emgold Mining Corp - Convertible debenture financing completed Emgold Mining Corp EMR Shares issued 11,337,903 1998-08-13 close $0.28 Friday Aug 14 1998 Mr. F.A. Lang reports Emgold Mining has closed the placement of $350,000 (U.S.) convertible, redeemable debentures, as announced in Stockwatch June 9, 1998. Each debenture bears an interest rate of 10 per cent and is convertible into units consisting of one share, and one half warrant. Each unit is convertible at the debentureholder's option at 40 cents in the first year and 45 cents in year two. Each whole warrant entitles the holder to acquire one additional share over a two year period at 50 cents in the first year and 60 cents in year two. The proceeds received from the debentures will be used to pay existing liabilities and for general working capital purposes. The company continues to seek additional financing for its Idaho-Maryland mine project in Grass Valley, California and has recently outlined a development program which will allow it to access known resource blocks in the mine containing an estimated three million ounces of gold. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com Mr Metals

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