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To: Buckey who wrote (3184)	1/29/1999 2:52:00 PM
From: ChainSaw	Respond to of 62348

News on NWI Nuinsco arranges special warrant financing Nuinsco Resources Limited NWI Shares issued 40,440,366 1999-01-28 close $2.37 Friday Jan 29 1999 Mr. H. Douglas Hume reports First Marathon Securities has agreed to act as the underwriter on behalf of Nuinsco in connection with the private placement of a minimum of 2.5 million special warrants and a maximum of five million special warrants at $2.00. The offering of the minimum of 2.5 million special warrants will be on a bought deal basis and the offering of up to a further 2.5 million special warrants will be on a best efforts basis. First Marathon may request that up to 1,250,000 of the special warrants be issued as flow-through special warrants. The offering will raise minimum gross proceeds of $5-million and maximum gross proceeds of $10-million. Each special warrant will entitle the holder to receive one share, subject to increase to 1.09 shares per special warrant if a receipt in respect of the prospectus qualifying the underlying shares is not obtained on or before the 120th day after the closing of the offering. The offering is scheduled to close on or about Feb. 11, 1999, and in any event no later than Feb. 18, 1999, and is subject to receipt of all necessary approvals and certain other conditions. The net proceeds are intended to be used for exploration and development of Nuinsco's Lac Rocher and Rainy River properties and general corporate purposes.