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Gold/Mining/Energy : Pallaum Minerals (ASE:PLM) -- Ignore unavailable to you. Want to Upgrade?

To: Dave M who wrote (491)	11/3/1998 9:06:00 AM
From: Gord Bolton	Read Replies (1) \| Respond to of 536

Well this must be a sure sign that the goods will soon be delivered. Private Placement 10/29/1998 08:58:00 / PALLAUM MINERALS LTD PALLAUM MINERALS LTD. ("PLM-Y;PLLMF-L") - Private Placement Stanley R. Ford, President of Pallaum Minerals Ltd. (the "Company"), is pleased to announce the arrangement of a private placement of Cdn$330,000. The private placement consists of two different units. The first section will consist of 560,000 units at a price of $0.25 per unit. Each unit consists of one common share and one 2-year share purchase warrant that enables the investor to purchase an additional 560,000 common shares at a price of $0.26 if exercised within the first year and at a price of $0.35 if exercised within the second year. A finder's fee of 53,800 common shares of the Company is payable to Peter Satola at a deemed price of $0.26 per share. The second section of the private placement will consist of 950,000 units at a price of $0.20 per unit. Each unit consists of one common share and one 2-year share purchase warrant that enables the investor to purchase an additional 950,000 common shares at a price of $0.26 if exercised within the first year and at a price of $0.35 if exercised within the second year. A finder's fee of 73,000 common shares of the Company is payable to Whitehall Capital Management Inc. at a deemed price of $0.26 per share. The President and the Corporate Secretary of Pallaum Minerals will be taking down 300,000 units of the private placement. The private placement and the finder's fees are subject to approval of the Alberta Stock Exchange. Further to its news release of October 22, 1998, the Company wishes to clarify that the number of units purchased is 275,000 not 211,311. Total proceeds received by the Company is Cdn$132,100. In addition, the finder's fee payable is 27,500 shares not 21,131 shares. TEL: (604) 687-5257 Stanley R. Ford, CEO & President or FAX: (604) 687-0384 Mark A.H. Crowther, Corporate Development 1-800-895-2211