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Gold/Mining/Energy : International Tournigan(ITG.V)announces major discovery -- Ignore unavailable to you. Want to Upgrade?

To: Chuca Marsh who wrote (203)	12/1/1997 4:58:00 PM
From: rdww	Read Replies (2) \| Respond to of 347

Fri 28 Nov 97 News Release Mr Ted Daem reports The company has negotiated a brokered private placement of 2,000,000 units at $1.00. Each unit consists of one share and one warrant exercisable for two years for one additional share at $1.00 in the first year and $1.5 in the second. The company has appointed Union Securities to act as agent in connection with this private placement and has agreed to pay Union a cash payment equal to 10% of the gross proceeds received. The agent will also receive agents warrants for the purchase of that number of shares equal to 20% of the units sold. The warrants will be exercisable for two years as above. The company has also negotiated a non-brokered private placement of 1,250,000 units at $1.00. Each unit consists of one share and one warrant exercisable for two years was above. The proceeds from both placements will be used to finance due diligence, engineering and other costs associated with entering into a definitive agreement respecting the polymetallic Berenguela project in southern Peru, engineering and development costs and working capital. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com Per your earlier posts - one was about Galleon's resignation. This was for personal family reasons I think and not related to ITG.