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Gold/Mining/Energy : Eldorado -- Ignore unavailable to you. Want to Upgrade?

To: Alex who wrote (475)	1/26/2000 12:29:00 PM
From: Alex	Read Replies (1) \| Respond to of 527

Private Placement Completed VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 26, 2000-- (CDNX:ELD. - news; TSE:ELD. - news) Eldorado Gold Corporation (``Eldorado' or the ``Company') (TSE, CDNX: ``ELD'), is pleased to announce that it has completed a private placement of 9,500,000 special warrants at $0.90 each as announced in the Company's news release dated January 17, 2000. Gross proceeds from the placement were $8,500,000. The banking syndicate, which was led by National Bank Financial Inc. and included Haywood Securities Inc., received a cash commission, and an option to acquire Common Shares equal to of 5% of the number of Special Warrants issued. Each Special Warrant may be exercised without payment of additional consideration for a unit (a ``Unit') consisting of one common share of Eldorado and one half of a share purchase warrant (a ``Warrant'). Each whole Warrant will entitle the holder to acquire an additional common share of Eldorado for a period of two years following the closing of the sale of the Special Warrants (the ``Closing Date') at a price of $1.10 per common share until the second anniversary of the Closing Date, after which time the Warrants will expire and may not be exercised. At closing, approximately $8.0 million of the net proceeds of the offering were released to the Company. If final receipts for the prospectus are not obtained within 120 days after the Closing Date from the securities commissions of each province in which the prospectus is filed, each Special Warrant sold to arm's length purchasers will thereafter be exercisable for 1.1 Units. The net proceeds received by Eldorado from the sale of the Special Warrants will be used for exploration and development of existing properties, to fund capital expenditures at existing operations, and for general corporate purposes. ON BEHALF OF ELDORADO GOLD CORPORATION (signed) Paul N. Wright President and Chief Executive Officer This and other news releases complete with graphic attachments are available at the Company's website or may be acquired by fax or mail upon request. The TSE has not approved or disapproved the form or content of this release. Eldorado Gold Corporation Suite 920 - 1055 West Hastings Street, Vancouver, British Columbia, Canada V6E 2E -------------------------------------------------------------------------------- Contact: Investor Relations Tel: 604/687-4018 and 1-888-ELD-8166 E-mail: info@eldoradogold.com Fax: 604/687-4026 Website Address: www.eldoradogold.com biz.yahoo.com