Cathedral Gold - $1,275,000 Private Placement Financing Completed.
Each Unit entitles the holder to receive one Common Share and one Share Purchase Warrant at no additional cost. One Share Purchase Warrant will entitle the holder to purchase one Common Share of the Company at Cdn$3.00 until August 28, 1997.
The net proceeds received by Cathedral from the sale of the units will be used principally for further exploration and drilling on the Company's Lady Property in Honduras and the Kaburi-Eldorado Project in Guyana. A 4 percent commission on the gross proceeds was paid to First Marathon Securities Limited.
R. Michael Jones, President
CONTACT: Cathedral Gold Corporation
R. Michael Jones
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|Date:||Aug 28, 1996|
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