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Gold/Mining/Energy : Royal International Venture RIL.V (was Labrador Int'l LAB) -- Ignore unavailable to you. Want to Upgrade?

To: Ed Pakstas who wrote (880)	5/19/1998 4:22:00 PM
From: Ed Pakstas	Read Replies (2) \| Respond to of 3380

*NEWS RELEASE* 6m special warrant financing cancelled Labrador International Mining Ltd LAB Shares issued 10,561,308 May 15 close $0.30 Tue 19 May 98 News Release Mr. Jerry Bradley reports The company has cancelled the private placement of 6 million special warrants at 37.5 cents announced in Stockwatch on May 7, 1998 and has re-negotiated a private placement with Union Securities for 6 million special warrants at 22.5 cents per special warrant for total proceeds of $1,350,000. Each special warrant will entitle the holder to acquire one unit consisting of one share and one warrant and for no additional consideration to purchase one share for 22.5 cents in the first year and 27.5 cents in the second year. The company has agreed to pay Union Securities a commission of 6.5 per cent of gross proceeds and has further agreed to issue class B warrants to purchase up to 600,000 shares at 27.5 cents for two years. Funds will be used to finance Voisey Bay work, property acquisitions and exploration as well as for general administrative purposes. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com