Sun Sep 15, 2002 Company announces a Non-Brokered Private Placement of up to 1,250,000 Units
The Company announces that it will not be proceeding with its private placement as announced by news release dated July 5, 2002.
The Company announces a non-brokered private placement of up to 1,250,000 Units at a price of $0.15 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 the price of $0.15 per share for a period of two years. The Company reserves the right to issue one half of the non-brokered private placement as flow-through units.
A finder's fee in the maximum amount allowable will be paid in connection with the private placement offering.
The Company intends to utilize the proceeds of the private placement for the purposes of exploration expenditures on its Botwood Basin Property, in the Gander River Project area, Newfoundland, Sobeski Lake Property, in the Black Bear Area, Red Lake District, Jackson-Manion Property, in the Birch-Uchi Lake Greenstone Belt Area, Red Lake District, Ontario, and for general working capital purposes.
Consolidated Abaddon Resources Inc. is a Vancouver based mineral exploration company with holdings in the Red Lake Gold Camp, Ontario and the Botwood Basin, Gander River Project area, Newfoundland.
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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