Farallon Completes Cdn $20 Million Financing.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 -- Farallon Resources Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :FAN) Dick Whittington Not to be confused with Sweet Dick Whittington. Dick Whittington (also Dick Wittington) is a character in a British pantomime, very loosely based on Richard Whittington, who was probably born in Gloucestershire but whose family came from Kinver in Staffordshire, , President and 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. of Farallon Resources Ltd. (TSX:FAN) is pleased to announce that Farallon has completed the recently announced financing by selling 28,571,877 units in its capital at a price of Cdn.$0.70 per unit to a number of accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. and institutional investors in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and overseas. Each unit consists of one common share and a share purchase warrant exercisable to purchase an additional common share at a price of $0.80 until December 17, 2005 and thereafter until December 17, 2006 at a price of $1.02. The common shares included in the units and the shares issuable on exercise of the warrants are subject to a four month resale restricted period until April 18, 2005. Net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). , after commissions of approximately 6%, from the placement will be used for ongoing exploration, mine engineering studies and metallurgical test work at Farallon's Campo Morado polymetallic massive sulphide project in Guerrero State, Mexico. Mr. Whittington said, "The response to Farallon's development potential has been remarkable. The support we have received will enable us to keep our focus on advancing the Campo Morado Project to mine development status as quickly as possible. We remain on track to open a mine by January 1, 2009." For further details on Farallon Resources Ltd. and its Campo Morado property, please visit the Company's website at www.farallonresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114. ON BEHALF OF THE BOARD OF DIRECTORS J.R.H. (Dick) Whittington, President & CEO Forward Looking Information This release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. The likelihood of future mining at Campo Morado is subject to a large number of risks and will require achievement of a number of technical, economic and legal objectives, including obtaining necessary mining and construction permits, completion of pre-feasibility and final feasibility studies, preparation of all necessary engineering for pits and processing facilities as well as receipt of significant additional financing to fund these objectives as well as funding mine construction. Such funding may not be available to the Company on acceptable terms or on any terms at all. There is no known ore at Campo Morado and there is no assurance that the mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. at Campo Morado will ever be classified as ore. For more information on the Company and the risk factors inherent in its business, investors should review the Company's Annual Information Form at www.sedar.com. No regulatory authority Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities has either approved or disapproved of the contents of the news release. Farallon Resources Ltd. (TSX:FAN) |
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