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METALL MINING CORPORATION ANNOUNCES SHARE OFFERING

 TORONTO, Dec. 8 /PRNewswire/ -- Metall Mining Corporation announced today that its principal shareholder, Metallgesellschaft AG ("MGAG"), has come to an agreement with a group of underwriters, led by Burns Fry Limited and Gordon Capital Corporation, to sell, by way of prospectus offering, 11,600,000 common shares of Metall Mining Corporation held by MGAG at $10.75 per share. MGAG will realize gross proceeds of $124,700,000. Following completion of the transaction MGAG will hold 50.1 per cent of the outstanding common shares of Metall Mining Corporation.
 The expected closing date of the transaction is Dec. 29, 1993.
 -0- 12/8/93
 /CONTACT: Dr. Klaus M. Zeitler, president and chief executive officer of Metall Mining Corporation, 416-361-6400/


CO: Metall Mining Corporation ST: Ontario IN: MNG SU:

MP -- NY072 -- 1794 12/08/93 13:03 EST
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Publication:PR Newswire
Date:Dec 8, 1993
Words:137
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