Altavista Mines -- Financing Completed -- Work Has Begun at Sept-Iles.BOUCHERVILLE, Quebec--(BUSINESS WIRE)--Aug. 27, 1997--ALTAVISTA (ME:AIA AIA - Application Integration Architecture ) Altavista Mines Inc. is pleased to announce the completion of a private placement, in the amount of $590,200. The financing, which will total $650,000, consists of the issuance of 591,000 common shares at a price of $1.10 per share by way of offering memorandum Offering Memorandum A legal document stating the objectives, risks, and terms of investment involved with a private placement. Notes: The private placement of hedge funds necessitates the issue of memorandums. to Canadian investors. The final closing should occur in the coming week. The funds will primarily be used to finance exploration work on the Chiskal and La Source properties. The balance will be applied to the Company's working capital. The Chiskal and La Source properties consist of 383 mining claims in the Sept-Iles region of Quebec, near the nickel-copper discovery made by Quebec government geologists in August 1996. The potential of these two properties is all the more interesting as numerous strong anomalies were detected by an EM airborne survey conducted recently by Quebec's Ministry of Natural Resources. The exploration program comprises a cartography-prospecting phase and a stream sediment geochemical sampling phase. The program is aimed at the identification of horizons geologically favourable to nickeliferous nick·el·if·er·ous adj. Bearing or containing nickel. Used of ores. and cupriferous cu·prif·er·ous adj. Containing copper. deposits, on which the Company could concentrate exploration later in the season. CONTACT: Altavista Mines Inc. Guy Hebert Guy Andre Hebert (born January 7, 1967 in Troy, New York) is a former professional ice hockey goaltender. Always a proud American, he used the French pronunciation of his first and last names because it "sounded better." He played for the St. , 514/641-0775 Fax: 514/641-1601 http://www.altavistamines.com altavista@altavistamines.com or Francois Kalos, 514/641-0775 Fax: 514/641-1601 http://www.altavistamines.com altavista@altavistamines.com or Roger Desloges, 416/368-5115 Fax: 416/925-7881 or Chapman Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. Lisa M. Chapman, 403/294-1322 Fax: 403/294-0922 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion