Armada Gold Announces $1.45 Million Private Placement.TORONTO--(BUSINESS WIRE)--March 27, 1998--Armada Gold Corporat(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :AAU AAU abbr. Amateur Athletic Union .) (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :AAU.) Armada Gold Corporation today announced that it has closed a CAD$1.45 million special warrant private placement with Levesque Beaubien Geoffrion Inc. The private placement consisted of 6.59 million special warrants, each priced at $0.22. The proceeds of the offering will be used to augment the company's working capital. Each special warrant will entitle the holder to acquire one Common Share of the company without additional payment upon exercise of the special warrant. The special warrants will become exercisable upon the issuance of receipts for a prospectus to be filed by the company with applicable securities regulatory authorities. In the event applicable securities regulatory authorities have not issued a final receipt for the prospectus by July 15, 1998, each special warrant will be exercisable for 1.1 common shares of the company. Armada Gold holds a 100 percent interest in Balgold Limited, the joint venture developing the Baley gold project in southeastern Siberia, which contains more than 5 million ounces of gold in the Taseevskoe deposit. Armada also holds a 49 percent interest in the Erdmin copper project in Mongolia, which is producing 10 tonnes of copper cathode a day. The project is presently subject to a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. examining an expansion of the operation to 60 tonnes per day or 20,000 tonnes of copper cathode per annum Per annum Yearly. . The common shares of Armada Gold are listed on The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. and The Alberta Stock Exchange under the symbol AAU. U.S. S.E.C. Exemption: 12g3-2(b) 82-3965. CONTACT: Armada Gold Corporation Ross Orr, 416/777-0878 toll-free 1-800-517-1119 or Armada Gold Corporation Chris Cory, 416/777-0878 toll-free 1-800-517-1119 |
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