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Gold/Mining/Energy : Cadre Resources (CSL.V) Awaiting production #'s and Financ -- Ignore unavailable to you. Want to Upgrade?

To: KipferlMeister who wrote (1050)	6/30/2003 12:10:09 PM
From: marcos	Read Replies (1) \| Respond to of 1285

' Cadre Resources arranges $60,000 (U.S.) financing Cadre Resources Ltd CSL Shares issued 8,971,715 CSL.T Jun 19 2003 close $ 0.11 Friday June 27 2003 News Release Mr. R. Page Chilcott reports Cadre Resources has negotiated a private placement for a total of 600,000 units. The private placement units comprise one common share and one detachable non-transferable share purchase warrant in the capital stock of the company at 10 U.S. cents per unit to net the treasury $60,000 (U.S.). One share purchase warrant will entitle the placee to purchase one additional common share of the company for a period of 24 months from the date of the initial purchase at 10 U.S. cents per share. A finder's fee is payable on a portion of the transaction. The common shares and any shares issued on the exercise of the share purchase warrants forming a part of the private placement units will be subject to a hold period as consistent with the policies of the TSX Venture Exchange and in accordance with all applicable securities laws and regulations. The proceeds of the private placement and from exercise of the warrants will be used to provide working capital, and to advance the company's business in Venezuela. Cadre personnel are currently in Venezuela to file a formal application with the Ministerion de Energia Y Minas in accordance with terms of the Venezuela mining law. Acceptance of the application and the granting of satisfactory permitting assurances will allow the preparation and arranging of finance for carrying out a detailed feasibility study in order to support the company's development plans for the lower Caroni River project. Terms of the private placement transaction are subject to acceptance by the TSX-V and any other regulatory authority having jurisdiction. (c) Copyright 2003 Canjex Publishing Ltd. stockwatch.com ' ... my bolding, of course ... cheers