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 : Exall Resources/Glimmer Resources -- Ignore unavailable to you. Want to Upgrade?

To: winzer5 who wrote (1269)	12/29/2004 7:43:36 PM
From: winzer5	Read Replies (1) \| Respond to of 1319

Anyone Following Exall/Southern Star the Golden Eagle Property? _______________________ Exall completes $350,000 financing 2004-12-29 19:01 ET - News Release Mr. Stephen Roman reports EXALL COMPLETES $350,000 FINANCING Exall Resources Ltd. has closed a $350,000 financing through Limited Market Dealer Inc. to three super-flow-through limited partnerships within the MineralFields Group. The financing consisted of flow-through units priced at 31 cents each, with each flow-through unit consisting of one flow-through common share plus one common share purchase warrant, with each warrant from the flow-through units entitling the holder to purchase one additional common share of Exall for a period of 24 months following the closing date at a price of 40 cents for the initial 12 months following the closing date, and at a price of 50 cents for the 12 months thereafter. Limited Market Dealer Inc. was paid a cash finder's fee of 5 per cent of the total proceeds raised and 10 per cent non-transferable broker warrants, exercisable for common shares of Exall for a period of 24 months following the closing date at a price of 40 cents for the initial 12 months following the closing date, and at a price of 50 cents for the 12 months thereafter. The securities issued under the private placement are subject to a four-month resale restriction and the entire placement is subject to final Toronto Stock Exchange approval. The gross proceeds from the financing will be used to finance the exploration drilling and development program at the Gold Eagle mine property in Red Lake, Ontario, which will commence in mid-January once freeze-up has occurred. To further the expansion and delineation of the current resource hosted at the Gold Eagle mine property, the joint venture partners have signed a 25,000-metre diamond drilling contract with Chibougamau Diamond Drilling Ltd. with a minimum of 10,000 metres expected to be completed by March 31, 2005 (see news as reported in Stockwatch on Dec. 21, 2004). We seek Safe Harbor. ____________________ Winzer