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Gold/Mining/Energy : INTERNATIONAL TAURUS RESOURCES INC. (ITS:VSE) -- Ignore unavailable to you. Want to Upgrade?

To: High Grader who wrote (42)	6/3/1998 10:40:00 AM
From: Bob Walsh	Read Replies (1) \| Respond to of 123

News release $5,500,000 private placement International Taurus Resources Inc ITS Shares issued 26,751,339 Jun 2 close $0.61 Wed 3 Jun 98 News Release Mr. Steven Parry reports International Taurus has engaged Griffiths McBurney & Partners, Taurus Capital Market and Wolverton Securities to act as agents for a $5,500,000 private placement of special warrants, consisting of 11,000,000 units at 50 cents per unit. Each unit is composed of one share and one-half warrant. Each whole warrant will entitle the holder to acquire one share at 65 cents until June 2, 1999 and at 75 cents until Dec. 2, 1999. 1,500,000 units will be designated as flow through units to be sold by Wolverton Securities. Each flow through special warrant is convertible into one, flow through share and one-half of one non-transferable non-flow through warrant at the same terms as the units above. The issue will close in conjunction with the completion of International Taurus' acquisition of Cyprus Amax Mineral Company's Lyon project property, as previously announced. Proceeds will be held in escrow until the Lyon acquisition is completed. The proceeds will be primarily used to develop the company's Lyon project near Yerington, Nevada, where a mineral resource of 12.1 million tons grading 3.41 per cent copper has been outlined by previous explorers, including U.S. Steel, Anaconda and Cyprus Amax. Beyond this, additional proceeds will be used to develop the company's other mineral properties and for general working capital and corporate purposes. The company also reports that it has received approval from the regulatory authorities and has closed a previously announced $1,062,000 private placement of units. Each $1.30 unit is composed of two shares and one-half warrant. Each whole warrant entitles the holder to purchase a share at $1.00. These proceeds will be used for preliminary work at the Lyon project in Nevada and for general corporate purposes. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com