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

To: jerry janko who wrote (671)	2/14/2000 8:41:00 PM
From: jerry janko	Read Replies (1) \| Respond to of 703

Figured JG would use all the money he made from MMI and drill on his own, but guess what we have money for a drill program!!!! Lucero to raise $500,000 (U.S.) privately Lucero Resource Corp LCR Shares issued 11,624,832 Feb 11 close $0.22 Mon 14 Feb 2000 News Release Mr. Jonathan George reports The company has agreed to terms of a private placement of up to $500,000 (U.S.) by CIBC Capital Partners, a division of the Canadian Imperial Bank of Commerce. The CIBC will purchase up to $500,000 (U.S.) worth of units of the company at a price of 16.5 cents per unit. Each unit will comprise one common share in the capital of the company and one share purchase warrant. Each share purchase warrant will entitle the holder to acquire an additional common share at a price of 22 cents for a period of three years from closing. The funds will be used to complete a two-phase, 32-hole drill program designed to test six promising copper porphyry targets on the southern portion of the company's Macromin project in Chile. The private placement will be completed in two tranches of $250,000 (U.S.) each, with the second tranche conditional on favourable phase I drill results being received on or before April 30, 2000. Proceeds of the first tranche of the private placement will be held in escrow pending commitment of an additional $500,000 (U.S.) financing by the company. The private placement is subject to the execution of a formal agreement and regulatory approval.