Bishop Completes Private Placement in Escrow.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 19, 2003 Bishop Resources Inc., ("Bishop") (BERLIN SYMBOL: BQ1) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE: BRI See ISDN. BRI - Basic Rate Interface .CX) listed on 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. under the trading symbol Trading symbol See: Ticker symbol "BRI", and on the Berlin Stock Exchange under the trading symbol "BQ1", wishes to announce the completion of private placement of 4,100,000 units ("Units") at $0.15 per Unit in exchange for $615,000. Each Unit is to consist of one flow through common share and one common share purchase warrant ("Warrant"). Each Warrant may be exercised at a price of $0.20 for one common share within 12 months from the date of issuance. Additionally, Bishop has proposed the issuance of 299,999 common shares at a price of $0.15 per common share and cash payments of $16,500 in respect of finder's fee Finder's fee A fee a person or company charges for service as an intermediary in a transaction. finder's fee The charge levied by a person or firm for putting together a deal. commissions. The proceeds of the placement are being held in escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. pending receipt of Exchange approval. Proceeds from this private placement will be used to fund continuing work on Bishop's Toodoggone Gold Properties. As released on July 23, 2003, final acquisition of the Toodoggone properties by Bishop remains subject to Exchange approval. Bishop also wishes to announce the resignation of Mr. Gordon Robinson, who leaves the Board to make way for the new core management team being formed to carry forward Bishop's objective of becoming a significant resource based development company focused on the identification, acquisition and development of precious and poly-metallic mineral deposits. By order of the Board, Arthur T. Fisher This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward-looking statements. The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved or disapproved of the contents of this press release. |
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