Minco Closes Private Placement With Teck At $2.00 Per Share.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , British Columbia--(BUSINESS WIRE)--July 10, 1998-- Minco Mining and Metals Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :MMM MMM Myeloid metaplasia with myelofibrosis, see there .)(VSE See DOS/VSE. VSE - Virtual Storage Extended :MMM.) is pleased to announce the closing of the private placement transaction previously announced on June 15, 1998. This transaction sees Teck Corporation purchase 375,000 shares in Minco at $2.00 per share. Proceeds of this transaction, $750,000, will be used to fund exploration programs on the Company's polymetallic White Silver Mountain project in Gansu, China. The shares issued to Teck are subject to a statutory hold period expiring ex·pire v. ex·pired, ex·pir·ing, ex·pires v.intr. 1. To come to an end; terminate: My membership in the club has expired. 2. on June 9th, 1999. The private placement includes three sets of share purchase warrants; 125,000 shares exercisable within one year at $2.00 per share, 125,000 shares exercisable within one year at $3.00 per share and 125,000 shares exercisable within two years at $3.45 per share. The warrants priced at $3.00 per share must be exercised in order for Teck to maintain its option on the White Silver Mountain project.
CONTACT: Minco Mining & Metals Corporation
Dr. Ken Cai, 604/688-8002
email: info@minco-mining.com
website: www.minco-mining.com
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