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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: TheBusDriver who wrote (2058)	2/28/2002 5:03:41 PM
From: I_C_Deadpeople	Read Replies (3) \| Respond to of 39344

Forget what I said earlier about no financing at these prices (I look like a monkey's ass)...Madison proposes $800,000 private placement Madison Enterprises Corp MNP Shares issued 45,463,653 Feb 28 close $0.10 Thu 28 Feb 2002 News Release Mr. Chet Idziszek reports PRIVATE PLACEMENT TO FUND RESUMPTION OF EXPLORATION Madison has, subject to regulatory approval, arranged a non-brokered private placement of eight million units at a price of 10 cents per unit to generate gross proceeds of $800,000. Each unit will consist of one common share of Madison and one-half warrant, every full warrant entitling the purchase of an additional common share of Madison at a price of 12 cents per share for a period of 18 months. Madison has agreed to pay a finder's fee of 8 per cent of the proceeds in respect of this placement, such fee to be payable half in cash and half in units. Madison has also agreed to issue brokers' warrants entitling the purchase of up to 700,000 units in consideration of the assistance of Canaccord Capital Corporation and Bolder Investment Partners in arranging this placement. The proceeds of this private placement will be used to finance the resumption of exploration of Madison's Mt. Kare gold property in Papua New Guinea. Exploration work will consist of prospecting, trenching and regional geochemical sampling to identify and refine drill targets.