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Gold/Mining/Energy : Spider Resources - SPQ.ASE -- Ignore unavailable to you. Want to Upgrade?

To: bill who wrote (359)	4/28/1998 3:30:00 PM
From: bill	Read Replies (1) \| Respond to of 471

Terms set for proposed private placement Spider Resources Inc SPQ Shares issued 79,806,176 Apr 27 close $0.10 Tue 28 Apr 98 News Release Ms. Mary Peschka reports The company has reached agreements in principle with subscribers pursuant to which Spider will issue to such subscribers, on a private placement basis, convertible debentures in the total principal amount of between $300,00 and $800,000. The debentures are convertible into units of Spider at 10 cents. Each unit is composed of one share and one warrant to subscribe for one share at 12 cents for 24 months. The proceeds will be used to finance Spider's exploration program on its Brazilian properties. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com