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Gold/Mining/Energy : Repadre Capital - RPD.T -- Ignore unavailable to you. Want to Upgrade?

To: John Sladek who wrote (3)	4/25/2002 8:05:13 PM
From: John Sladek	Read Replies (1) \| Respond to of 9

Wednesday April 24, 11:15 am ET - Repadre Cash Increases by Over $8 Million Exercise of 2.18 million Warrants completed April 22 Press Release SOURCE: Repadre Capital Corporation SYMBOL RPD - TORONTO TORONTO, April 24 /CNW/ - Repadre Capital Corporation announced today that it had received proceeds of $8.7 million from the exercise of 2.18 million common share purchase warrants at a price of $4.00 per warrant. The warrants, which expired at 4:00 p.m. EDT on April 22nd, were issued in connection with the acquisition of Golden Knight Resources in April 1999. At that time, the common shares of Repadre were trading at $2.13 per share. The cash proceeds from exercise of the warrants has increased the Corporation's cash and bullion position to over $12.0 million. The Corporation has also received a first quarter payment of $110,000 in respect of interest on shareholder debt acquired pursuant to the acquisition of its interest in Abosso Goldfields Limited, owner of the Damang gold mine on January 23, 2002. "Repadre has received an initial important cash injection from the exercise of in-the-money warrants following the significant increase in our share price," said Joseph Conway, President and C.E.O. "We look forward to further substantial cash receipts. In addition to our continuing royalty income, we anticipate dividends and principal repayments in respect of our 18.9% interests in the Tarkwa and Damang mines beginning this year. The cash will be used for general corporate purposes and to execute the Corporation's plan to increase attributable gold production and royalty interests." The Tarkwa and Damang gold mines, on adjacent properties in Ghana, are operated by South African based Gold Fields Limited, one of the world's largest unhedged gold producers. Repadre has an 18.9% interest and Gold Fields has a 71.1% interest in each of Gold Fields Ghana Limited, owner of the Tarkwa mine, and Abosso Goldfields Limited. The acquisition of Abosso consolidates holdings in the area and provides Repadre with additional leverage to gold. Reserves at Damang on March 31, 2001 were 26.6 million tonnes grading 1.9g/t containing 1.6 million ounces of gold. From that date to the acquisition date, Damang milled 3.7 million tonnes grading 2.3g/t. Repadre Capital Corporation is a natural resource royalty company listed on the Toronto Stock Exchange (TSE:RPD - news) whose principal activity is the creation and purchase of royalties and non-operating interests on a global basis. In addition to its interests in the Tarkwa/Damang gold complex, and other precious metal projects, the Corporation holds a one percent royalty on production from the Diavik diamond mine in Canada, expected to begin production in early 2003. Some of the statements contained in this release may be forward-looking statements, such as estimates and statements that describe Repadre's future plans, objectives or goals. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. There can be no assurance that such statements will prove to be accurate and that actual results and future events in each case could differ materially from those currently anticipated in such statements by reason of such factors as, but not limited to, changes in general economic and market conditions. For further information Joe Conway, President and CEO: (416) 365-8090 Forbes West, Investor Relations (416) 203-2200 Website: repadre.com E-mail: mailto:info@repadre.com biz.yahoo.com