Castillian Closes $500,000 Brokered Private Placement; David M. Rigg Appointed to the Board of Directors.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 19, 2004 Further to the news release of October 28, 2003, Castillian Resources Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CT) (the "Company") is pleased to announce that the brokered private placement of 67,817 units at a price of $7.50 per unit for gross proceeds of $508,627.50 closed on December 30, 2003, and the Company has issued the shares to the subscribers. Each unit consisted of eight (8) flow-through common shares and two (2) non-flow-through common shares of the Company. The shares are subject to a four (4) month hold period expiring on April 30, 2004. In connection with the private placement, the Company has paid to First Associates Investments Inc. (the "Agent"), of 500 - 550 Burrard Street Burrard Street is a major thoroughfare in Vancouver, British Columbia, Canada. It is the central street of Downtown Vancouver and the Financial District. The street is named for Burrard Inlet, located at its northern terminus, which in turn is named for Sir Harry Burrard. , Vancouver, 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 , a cash commission of $40,690, which is equal to 8% of the gross proceeds of the private placement. The Company also issued agents' compensation options to purchase an aggregate 101,725 non-flow-through common shares at a price of $0.75 per share until December 30, 2004, which options were allocated to the Agent as to 90,525 common shares, sub-agent Canaccord Capital Corporation, of 2200 - 609 Granville Street, Vancouver, British Columbia as to 8,000 common shares and sub-agent Wolverton Securities Ltd., of 777 Dunsmuir Street, 17th Floor, Vancouver, British Columbia as to 3,200 shares. The Company also paid the Agent a corporate finance fee of $15,000 plus GST GST abbr. Greenwich sidereal time GST (in Australia, New Zealand, and Canada) Goods and Services Tax . Mr. David M. Rigg P.Geo. has joined the Board of Directors, replacing Brian Findlay who recently resigned to pursue other business opportunities. Mr. Rigg has 25 years of experience in the mining industry, including work on exploration and mine development programs in the Red Lake, Pickle Lake and Opapimiskan Lake areas of NW Ontario, contributing to the discovery of the Musselwhite mine in 1985. He worked for Agnico Eagle Mines in Val d'Or, Quebec in various capacities including Exploration Manager Agnico Eagle Mines and various senior positions in Africa and Sweden. He was a member of the Laronde Mine discovery team awarded Prospector of the Year award by the QPA QPA Quality Point Average QPA Quarry Products Association (UK) QPA Qualified Pension Administrator QPA Quality Practice Award (UK Primary Medical Care Award) QPA Quantity Per Assembly in 1995. Mr. Rigg brings significant exploration, mine development and management expertise in gold and base metals to Castillian Resources Ltd. The current management team has been further strengthened with the addition of Ms. Deborah Battiston as Chief Financial Officer and Mr. Tony Wonnacott as Corporate Secretary. Ms. Battiston is a C.G.A. who was previously the Vice President Finance and Chief Financial Officer of The SunBlush Technologies Corporation, a 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. listed company. She obtained her Bachelor of Arts (Economics) in 1983 from the University of Guelph The University of Guelph is a medium-sized university located in Guelph, Ontario, established in 1964. While the U of G offers degrees in many different disciplines, the university is best known for its focus on life sciences, based in part on a long-standing history of in 1983. Mr. Wonnacott is a corporate securities lawyer who holds a Bachelor of Commerce The Bachelor of Commerce is a bachelor's degree in business management, accounting and economic fields. The degree is also known as the Bachelor of Commerce and Administration (BCA). and has completed the Canadian Securities Course The Canadian Securities Course (CSC) offered by the Canadian Securities Institute (CSI) is the initial course required for becoming licensed to work within the Canadian securities industry (outside Quebec) as a securities dealer or securities agent. . ON BEHALF OF THE BOARD OF DIRECTORS OF CASTILLIAN RESOURCES CORP. "John Kowalchuk" JOHN KOWALCHUK, President THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. |
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