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Gold/Mining/Energy : Donner Minerals (DML.V) -- Ignore unavailable to you. Want to Upgrade?

To: Ed Pakstas who wrote (3577)	3/2/1998 7:30:00 PM
From: Francis R. Biscan Jr.	Respond to of 11676

>>The company has not paid its annual sustaining fees or other outstanding fees. Therefore, effective at the close of trading on March 2 1998, the company will be suspended from trading.<< It seams that an old billing address was being used, that was over 3 years old. Until the release, we had no idea we were delinquent. As of about 1:35 Pacific time, the matter had been cleared up and the fees paid. We expect that we should be trading tomorrow. Also following is a News Release with a positive tone. Rich Biscan LATITUDE MINERALS CORP. SUITE 612, 475 HOWE STREET, VANCOUVER, BC. V6C 2B3 Tel: (604) 688-2010; Fax: (604) 688-2015; Toll-free: 1 (800) 668-0071 e-mail: mineral @ mineweb.com trading symbol: LTU.V VANCOUVER, BC, March 02, 1998: The Company has agreed, subject to regulatory approval, to a two tranche financing consisting of: 1.) A brokered Special Warrant Financing consisting of up to 2.0 million units of the Company at a deemed price of C$0.1575 per unit. Each Special Warrant will exchange into one common share along with a non-transferable two year share purchase warrant entitling the holder to purchase an additional share of the Company at C$0.1575 for the first year and C$0.18 for the second year. A portion of the units offered may be deemed as "flow-through" units. A commission equal to 5% of the gross proceeds is payable to Union Securities Ltd. In addition, Union Securities Ltd. will be entitled to Broker Warrants equal to 15% of the Special Warrants placed on the Offering, exercisable at C$0.1575 and C$0.18. per share. And: 2.) A private placement consisting of 1.0 million units of the Company to Officers and Directors of the Company at a price of C$0.1575 per unit. Each units will consist of one common share along with a two year share purchase warrant entitling the holder to acquire an additional share of the Company for C$0.15 in the first year and C$0.1725 for the second year. A portion of the units offered may be deemed as "flow-through" units. Proceeds of the financings will be used in part, to fund the Company's ongoing participation in the South Voisey Bay mineral exploration project in which the Company holds a 25% interest. The other partners are NDT Resources Ltd. (NDU.V) as to 50% and Donner Minerals Ltd. (DML.V) as to 25%. Additionally, a portion of the proceeds will be allocated to fund further exploration on the Company's two mineral concessions in Sumatra, Indonesia as well as for corporate working capital, general and administrative expenses. The Company has also agreed, subject to regulatory approval to grant incentive stock options to Directors, officers and employees for 200,000 shares at C$0.23 per share for two years. Additionally, Mr. Richard Biscan Jr. has consented to join the Board of Directors of the Company. On Behalf of the Board of Directors, LATITUDE MINERALS CORP. "Clifford L. Mossing" Clifford L. Mossing, Director THE VANCOUVER STOCK EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE INFORMATION CONTAINED HEREIN