Fri Nov 14, 2003 Non-Brokered Private Placement of 1,000,000 Units Closed
Further to the Company's news release dated October 21, 2003 the Company announces that has closed its non-brokered private placement of 1,000,000 Units at a price of $0.20 per unit. Each unit consists of one share and one share purchase warrant which will entitle the holder to purchase an additional share of the Company at a price of $0.20 per share until November 12, 2004. The Company also paid the sum of $5,000 to Haywood Securities Ltd. and paid the sum of $5,000 and issued 25,000 Units to Canaccord Capital Corporation. The shares and any shares to be issued upon exercise of the share purchase warrants are subject to a hold period expiring on March 12, 2004.
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