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Gold/Mining/Energy : Regal GOldfields (REGL -- Cdn over the counter) -- Ignore unavailable to you. Want to Upgrade?

To: Brian Warner who wrote (306)	12/30/1997 3:01:00 PM
From: Brian Warner	Respond to of 370

fin-info.com 1997-12-29 ÿÿ(provided courtesy of Canadian Corporate News) Regal Goldfields Limited Company Announcement TORONTO, ONTARIO--Regal Goldfields Limited announces that it has amended and closed a previously announced private placement of flow through special warrants (the "Flow Through Special Warrants"). The private placement consisted of 2,000,000 Flow Through Special Warrants at a price of $0.20 per Flow Through Special Warrant instead of the previously announced 2,500,000 Flow Through Special Warrants at a price of $0.16 per Flow Through Special Warrant. The holders of Flow Through Special Warrants are entitled to receive, upon exchange thereof and without payment of any consideration in addition to the purchase price therefor, one common share and one-half of a common share purchase warrant (the "Warrant" of the Company for each Flow Through Special Warrant held. One whole Warrant will be exercisable to purchase one additional common share for two years at a price of $0.20 per common share. The previously announced Flow Through Special Warrants were exchangeable for one common share only, without warrants. The previously announced terms did not receive regulatory approval. The Flow Through Special Warrants will be exercisable at any time prior to 5:00 p.m. (Toronto time) on the date (the "Expiry Date") which is the earlier of: /T/ (i) six business days after a receipt is issued by the Ontario Securities Commission for a prospectus qualifying the issuance of the common shares and Warrants to be issued upon exchange of the Flow Through Special Warrants; and (ii) the date which is eighteen months following the date of closing. /T/ Any Flow Through Special Warrants not exercised prior to 5:00 p.m. (Toronto time) on the Expiry Date shall be deemed to have been exercised immediately prior thereto. Total gross proceeds from the offering will be $400,000. The Company presently has 10,563,643 common shares outstanding. The proceeds of the offering will be used for the Company's exploration program on its Cheticamp properties located on Cape Breton Island in Nova Scotia. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Regal Goldfields Limited Richard Brissenden President (416) 364-1130 (416) 364-6745 (FAX) NO REGULATORY AUTHORITIES OR SIMILAR BODIES HAVE APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

To: Brian Warner who wrote (306)	12/30/1997 3:03:00 PM
From: Brian Warner	Read Replies (1) \| Respond to of 370

fin-info.com 1997-12-30 ÿÿ(provided courtesy of Canadian Corporate News) Regal Goldfields Limited Company Update TORONTO, ONTARIO--LEATON Developments Corporation ("Leaton"), a Canadian-based investment corporation, announced today that it has acquired 1,250,000 flow through special warrants (the "Special Warrants") of Regal Goldfields Limited ("Regal"), by private placement, at a price of $0.20 per Special Warrant. The Special Warrants entitle Leaton to receive 1,250,000 fully paid and non-assessable common shares in the capital of Regal and 625,000 common share purchase warrants within six business days after a receipt is issued by the Ontario Securities Commission for a final prospectus qualifying such common shares and warrants, or on June 23, 1999, whichever is earlier. Each common share purchase warrant entitles Leaton to acquire one common share in the capital of Regal at an exercise price of $0.20 per common share at any time on or before December 23, 1999. Regal presently has 10,563,643 common shares outstanding. As a result of this acquisition, Leaton owns 1,250,000 Special Warrants and, assuming conversion of the Special Warrants and the common share purchase warrants, on a fully diluted basis, Leaton will own 1,875,000 common shares, representing approximately 15.1 per cent of the outstanding common shares of Regal. The Special Warrants were purchased for investment purposes and Leaton does not have any present intention to acquire additional shares of Regal. However, Leaton may, depending on the circumstances, acquire additional common shares of Regal in the future. NO REGULATORY AUTHORITIES OR SIMILAR BODIES HAVE APPROVED OR DISAPPROVED OF THE INFORMATION CONTAINED HEREIN. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Leaton Developments Corporation (416) 733-2202