Wed Feb 5, 2003 Consolidated Abaddon announces a Non-Brokered Private Placement of up to 2,000,000 Units
The Company announces a non-brokered private placement of up to 2,000,000 Units at a price of $0.10 per Unit. Each Unit will consist of one share and one share purchase warrant which entitles the holder thereof to purchase an additional share of the Company at a price of $0.13 per share for a period of two years. A finder's fee in the maximum amount allowable will be paid, if applicable, in connection with this private placement offering.
The proceeds of the private placement will be utilized for the purposes of exploration expenditures on its Sidace Lake and Black Bear North Properties located on the East Bay Trend, Red Lake Mining Division, Ontario and for general working capital purposes.
The above transaction is subject to the acceptance of the TSX Venture Exchange.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
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