$2.4 Million Raised by Goldust.CALGARY Calgary (kăl`gərē), city (1991 pop. 710,677), S Alta., Canada, at the confluence of the Bow and Elbow rivers. The largest city in Alberta and the fastest-growing major city in Canada, Calgary is a corporate, transportation, and financial , ALBERTA--(BUSINESS WIRE)--Oct. 24, 1996--Goldust Mines (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :GUS GUS Gemeinschaft Unabhängiger Staaten (German: CIS) GUS Gravis Ultrasound GUS Great Universal Stores GUS Grown Up Soda GUS Giornalisti Uffici Stampa (Italian) GUS Guide to the Use of Standards .) Goldust Mines Ltd. announces that it has had a first closing on its prospectus offering of flow-through common shares and has issued 3,200,000 common shares for gross proceeds of $2,400,000. The offering by prospectus is for a minimum of 2,000,000 and a maximum of 4,000,000 common shares on a flow-through basis Flow-through basis An account for an investment credit to show all income statement benefits of the credit in the year of acquisition, rather than spreading them over the life of the asset. at a price of $0.75 per share. Further closings are anticipated. The shares are offered for sale in the provinces of Ontario, Manitoba, Saskatchewan, Alberta and British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography . Research Capital Corporation is the agent for the offering. The proceeds from the offering will be used primarily to complete Goldust's bulk sampling program on its Croinor gold property. The purpose of the bulk sample is to test the continuity of the Croinor deposit prior to commencing commercial production. The Company currently has permission to mine a 50,000 ton bulk sample from its Croinor deposit and is planning for a continuation of mining operations from underground on the completion of the bulk sample program. Mining for the bulk sample will be conducted to the 125 foot level. Goldust Mines Ltd. is a junior gold mining company listed on the Alberta Stock Exchange and trades under the symbol "GUS". -0- The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. CONTACT: Goldust Mines Ltd. Len Demelt, 819/ 825-9690 819/ 825-0043 (FAX) or Goldust Mines Ltd. Andrew S. Burgess BURGESS. A magistrate of a borough; generally, the chief officer of the corporation, who performs, within the borough, the same kind of duties which a mayor does in a city. In England, the word is sometimes applied to all the inhabitants of a borough, who are called burgesses sometimes it , 403/ 571-1106 403/ 571-1101 (FAX) |
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