Coleville Announces $2,000,000 Private Placement.CALGARY, Alberta--(BUSINESS WIRE)--Feb. 12, 1997-- Coleville (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :CLL CLL abbr. chronic lymphocytic leukemia CLL, n.pr See leukemia, chronic lymphocytic. CLL 1. Chronic lymphocytic leukemia 2. Cholesterol-lowering lipid ) Coleville Resources Ltd. is pleased to announce that it intends to complete a private placement of $2,000,000 to finance exploration and development of its mineral properties including exploration of its Ojalali property located in Indonesia. The private placement will consist of 813,008 units of the Corporation at a price of $2.46 per unit. Each unit consists of one common share and a warrant to purchase an additional common share at $2.59 for a period of two years. The private placement is scheduled to close by the end of March, 1997 and is subject to regulatory approval. Antares Mining and Exploration Corporation of Toronto (ANZ-TSE) announced today that it has completed a financing of CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. . $3,500,000 of which U.S. $1,500,000 will be paid to Coleville for their interest in the joint venture and the balance will be used for trenching, drilling and an aerial geophysics geophysics, study of the structure, composition, and dynamic changes of the earth, its atmosphere, hydrosphere and magnetosphere, based on the principles of physics. program on the Ojalali property. Four of the ten zones on the Ojalali property have been prioritized for exploration: namely area C1, Bukit Batu Kuning, Bukit Kencur and Bukit Jambi. Coleville is currently implementing the necessary legal steps to facilitate closing of the transaction with Antares Mining and Exploration Corporation. Approved on behalf of the Board of Directors by: "Signed" W.A. Peter Perry Peter Perry (November 14 1792 – August 24 1851) was a businessman and political figure in Upper Canada. He was born in Ernestown, Ontario (now Bath) in 1792. His father was a United Empire Loyalist from Vermont who had served with the Queen's Rangers and Edward , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and director -0- Note to Editors: Neither the Alberta Stock Exchange nor any other regulatory body has approved or disapproved of the contents of this news release. CONTACT: Silicon Capital Corp. Gerry Belanger, 403/205-3660 |
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