Alberta Star Announces $805,000 Financing.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--April 21, 2003 Further to the company's press release of April 8, 2003 Alberta Star (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE: ASX ASX See: Australian Stock Exchange ) is pleased to announce that it has agreed to a financing via a Short Form Offering consisting of the sale of 3,500,000 units at $0.23 each. Each unit will consist of one common share and one non-transferable share purchase warrant entitling the holder to purchase one additional common share of the Company for $0.30 for a period of one year. The warrants will be non- transferable and will not be trading through the facilities of the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. . The units are being offered for sale on a commercially reasonable efforts basis through Canaccord Capital Corporation as exclusive agent for Alberta Star in 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 , Alberta and such other jurisdictions permitted by applicable securities laws. Alberta Star will pay Canaccord a commission equal to 9% of the gross proceeds of the Offering, an administration fee of $5,000 and a corporate finance fee consisting of the issuance of 100,000 common shares of the Company. In addition, Alberta Star has granted Canaccord a non-transferable warrant to acquire up to 700,000 common shares of the Company at a price of $0.25 per share, exercisable for a period of one year from the closing of the offering. Alberta Star will use the proceeds of the offering for geophysical and diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral exploration on the Longtom property located in the Northwest Territories Northwest Territories, territory (2001 pop. 37,360), 532,643 sq mi (1,379,028 sq km), NW Canada. The Northwest Territories lie W of Nunavut, N of lat. 60°N, and E of Yukon. , for general working capital and for costs associated with the financing. The private placement is subject to TSX Venture Exchange acceptance. ALBERTA STAR DEVELOPMENT CORP. Tim Coupland, President 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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