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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: tool dude who wrote (122903)	11/14/2003 1:44:42 PM
From: bigbuk	Read Replies (1) \| Respond to of 150070

SSR 350% ina week now look LOLOLOL Southern Star arranges $2-million private placement Southern Star Resources Inc SSR Shares issued 19,989,107 Nov 13 close $0.44 Fri 14 Nov 2003 News Release Mr. John Tait reports SOUTHERN STAR ANNOUNCES $2.2 MILLION BROKERED PRIVATE PLACEMENT Southern Star Resources has engaged Canaccord Capital to act as the company's agent in connection with a best-efforts offering of up to four million flow-through shares exercisable before closing at a price of 50 cents per share for gross proceeds of up to $2-million. Canaccord has retained an option to increase the size of the offering by up to $200,000. Up to 25 per cent of the offering will be purchased by insiders of the company. The company has agreed to: (i) pay Canaccord a commission equal to 6.0 per cent of the gross proceeds raised; and (ii) grant a compensation warrant to Canaccord enabling it to purchase that number of common shares that is equal to 10 per cent of the number of common shares issued by the company pursuant to the offering, exercisable at 50 cents per common share for a period of 12 months following the closing of the offering. Proceeds of the offering will be used by the company to further explore the Gold Eagle mine property. Completion of the offering is subject to receipt of all required regulatory approvals. Southern Star has an option to earn a 50-per-cent interest in the Gold Eagle mine property which consists of 35 patented claims totalling 726.1 hectares (1,793.5 acres) in the heart of the prolific Red Lake gold camp. The Gold Eagle mine produced approximately 40,000 ounces of gold from 1937 to 1941. Since operations ceased, no significant exploration program has been undertaken on the property. With successful former producing mines on two sides of the property near the northern boundary, the claims are exceptionally well located. There are no royalties on the subject property. On Nov. 14, 2003, a total of 225,000 options to purchase common shares of the company were granted to two consultants of the company at an exercise price of 50 cents per share expiring on Nov. 13, 2008. The grant of options is subject to regulatory approval. (c) Copyright 2003 Canjex Publishing Ltd. stockwatch.com