Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: jerry janko who wrote (680)	5/26/2000 8:50:00 AM
From: jerry janko	Read Replies (2) \| Respond to of 703

Mr. Frank Arcese reports A private placement of up to $500,000 (U.S.) made on Feb. 14, 2000, has been cancelled. The company has agreed to terms of a new priate placement with CIBC Capital Partners wherein Lucero will issue $200,000 (U.S.) worth of units of the company at a price of 11 Canadian 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 14 cents per share, for a period of three years from closing. This is a non-brokered private placement and CIBC is buying for its own account. The $200,000 (U.S.) commitment by CIBC will be placed in escrow and is subject to Lucero raising another $200,000 (U.S.). Proceeds of the financing will be used to conduct drilling on the Macromin porphyry copper prospect (southern targets) in northern Chile. Phase I exploration will consist of a 16-hole (4,000 mt. R.C.) drill program in order to test six copper porphyry targets where the company has previously performed extensive work (mapping, trenching, assays and geophysical testing). A contract with a drilling contractor has been signed and drilling is scheduled to start the first week of June, 2000.