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Gold/Mining/Energy : Major General--MGJ -- Ignore unavailable to you. Want to Upgrade?

To: kidl who wrote (1468)	9/10/1999 2:22:00 PM
From: kidl	Read Replies (1) \| Respond to of 1707

Major General to raise $1,005,000 privately Major General Resources Ltd MGJ Shares issued 39,262,163 Sep 9 close $0.16 Fri 10 Sept 99 News Release Mr. Bernard Kahlert reports Major General has arranged a non-brokered private placement of up to 6.7 million units at a price of 15 cents per unit to realize gross proceeds to the company of up to $1,005,000. It is proposed that $600,000 (four million units) will qualify as flow-through financing. Each flow-through unit will consist of one flow-through common share and one non-transferable share purchase warrant entitling the holder to purchase one additional flow-through common share for 18 cents for one year following the closing. Each non-flow-through unit will consist of one common share and one non-transferable share purchase warrant entitling the holder to purchase one additional common share for 15 cents during the first year following the closing and for 18 cents for one year following the closing. The proceeds from the financing will be used for exploration expenses on the company?s Quebec, Ontario and Newfoundland properties and for general working capital. A finder?s fee of 7.5 per cent in cash or shares, at the option of the finder, may be payable on a portion of the financing. ¸ Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com