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 : St. Jude Resources......V.SJD -- Ignore unavailable to you. Want to Upgrade?

To: David R. Schaller who wrote (3064)	11/21/2003 10:50:06 PM
From: David R. Schaller	Respond to of 3065

Press Release Source: St. Jude Resources Ltd. St. Jude Closes $18 Million Financing For West Africa Gold Exploration Friday November 21, 1:42 pm ET VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 21, 2003--St. Jude Resources Ltd. (TSX VENTURE:SJD - News) is pleased to announce that it has just closed an $18 million private placement financing which was co led by Haywood Securities Inc. and Salman Partners Inc. (the Agents). As previously announced November 5, 2003 the company originally agreed to issue 7.5 million units, but due to over subscription demand the agents exercised their $3 million greenshoe option. Accordingly a total of 9 million units, at $2.00 per unit have been issued. Each Unit consisted of one common share, plus one half of one common share purchase warrant, with each full warrant entitling the holder to purchase one additional common share at $3.00 for a period of five years. The Agents in connection with the private placement, have received a 6.5% commission together with Agent Compensation Options, which entitles them to acquire 450,000 shares each at the same price of the unit issue for a period of two years. All shares issued in this private placement will be subject to the standard hold period imposed by Exchange Policies. The Company is in a strong financial position to continue to explore and develop its four advanced stage gold projects in West Africa. Drilling is currently underway on select targets at both the Hwini Butre and Benso projects in Ghana. At Goulagou in Burkina Faso the company is drilling on the GG1 and GG2 gold targets. At Rounga the exploration team have started a 2000 sample geochem program with a view of extending the strike of the original discovery and to establish new drill targets. St. Jude is a leading West Africa explorer focused on the discovery and development of gold deposits amenable to low cost mining. The company's four advanced-stage projects namely, Hwini-Butre, Benso, Goulagou and Rounga cover over 571 sq. km. (141,171 acres) of one of the richest and most productive gold bearing regions in the world. With an expanding gold resource, new discoveries and several advanced exploration targets, St. Jude is well positioned to continue its strong growth.