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Gold/Mining/Energy : Greenstone (GRERF) -- Ignore unavailable to you. Want to Upgrade?

To: Phil Cressman who wrote (70)	8/17/1998 11:53:00 AM
From: todd wiseman	Read Replies (1) \| Respond to of 138

Phil, Can you post more details on the bought deal? Already 1.35 million shares traded, sure hope 2.10 holds! Does anyone out there have an 5 or 10 year chart that they could post? Wondering if there are any gaps left to be filled. Todd,

To: Phil Cressman who wrote (70)	8/17/1998 12:10:00 PM
From: todd wiseman	Read Replies (2) \| Respond to of 138

Phil ,i found the press release, hear it is. Canada NewsWire Give us your message. We'll give you the world. Attention Business Editors: GREENSTONE SECURES US$13 MILLION IN ADDITIONAL FINANCING TORONTO, Aug. 17 /CNW/ - Greenstone has accepted a bought deal from an underwriting group consisting of Nesbitt Burns Inc. and Griffiths McBurney & Partners for the purchase of 5.5 million common shares at C$2.10 per share and US$5.35 million of five year, 12.5% unsecured notes. The offering is subject to regulatory approval, including clearing a short-form prospectus. Closing is expected on or about September 3, 1998. Greenstone President Rudi Fronk said that ''although we were satisfied that our financial resources were sufficient to meet project start-up requirements before the Company becomes cash flow positive in the fourth quarter of this year, investors continued to express concerns about liquidity which resulted in a weakening share price. This financing should put these fears to rest. We now have sufficient funds to meet any reasonable concerns regarding unanticipated start-up delays. All four gold projects are progressing well: Santa Rosa (Panama) continues to meet budget projections; at Cerro Mojon (Nicaragua), the intermediate leaching system is now fully operational and production is beginning to climb; production has recommenced at Bonanza (Nicaragua) and is exceeding projections; and mine commissioning is now underway at San Andres (Honduras).'' The unsecured notes are being sold in units consisting of a US$1,000 note and 200 common share purchase warrants. The Notes will rank pari passu with the existing senior unsecured notes maturing February 2002. The five year Warrants are exercisable at C$2.50. Greenstone owns and operates the Santa Rosa gold mine in Panama, the Cerro Mojon and Bonanza gold mines in Nicaragua and is currently commissioning the San Andres gold mine in Honduras. Greenstone's common shares are listed on The Toronto Stock Exchange (GRE) and The Nasdaq Stock Market (GRERF). /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./ -30- For further information: James S. Anthony, Chairman; or Rudi P. Fronk, President and Chief Executive Officer; at Telephone (416) 862-7300 GREENSTONE RESOURCES LTD. has 33 releases in this database. Looks like 15 million more working capital, should keep the company going through the startup of the new mine. Hate to see shares added at this price, but the market is very tight at this point. All in all this is good news. Todd,