Printer Friendly

Cathedral Gold - $1,275,000 Private Placement Financing Completed.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Aug. 28, 1996-- Cathedral Gold Corporation (CAT-TSE) announces that it has completed its private placement of 500,000 Units at the price of Cdn$2.55 per Unit to raise proceeds of Cdn$1,275,000.

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


COPYRIGHT 1996 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1996, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Aug 28, 1996
Previous Article:New DHA/ARA patent enhances Formulaid position; Martek's Formulaid certified kosher.
Next Article:Sports & Recreation elects Sam Northrop Jr. to its board of directors.

Related Articles
REPEAT/Santa Cruz Inc. announces $6,000,000 maximum special warrant financing.
Pursuit announces sale of up to 3 million special warrants to finance expanded South East Asian exploration activities.
Nora Exploration Closes a New $250,000 Private Placement - Nora Cash Position to Finance its International Expansion Now Stands at $500,000.
Dynacor Raises $1 Million for Peru Projects.
Holmer Gold Mines Limited Announces Financing Of Up To $8,500,000.
Holmer Gold Mines Limited Announces Financing of Up To $8,500,000.
Bull & Bear Mutual Fund Group Increases Its Investment In Golden Cycle.
Bull & Bear Mutual Fund Group Increases Its Investment In Golden Cycle.
Cathedral Gold Corp.: Share Purchase Warrants Extended Up to One Additional Year.
Gold deposit shows potential for open pit mine. (Mining).

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters