Scintilore Explorations Limited announces agreement.TORONTO--(BUSINESS WIRE)--July 17, 1995--Scintilore Explorations Limited (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :SLP (Service Location Protocol) An IETF standard used to announce and discover services such as printers and file shares on an IP network. Apple used SLP prior to Mac OS 10.2, but migrated to its Bonjour technology. SLP is also used in SIP-based IP telephony applications. ) has reached an agreement to raise a total of $426,250.00 by way of two arms-length private placements. The placements consist of the purchase of a total of 1,550,000 common shares of the Company at a price of $0.275 per share, with warrants entitling the purchasers to obtain an additional 1,550,000 common shares at a price of $0.365 per share for one year. The necessary regulatory approval has been obtained pending filing of closing documents. Pursuant to the Order of Mr. Justice Archie Campbell of the Ontario Court (General Division), a further payment of $60,000.00 for security for costs SECURITY FOR COSTS, practice. In some courts there is a rule that when the plaintiff resides abroad he shall give security for costs, and until that has been done, when demanded, he cannot proceed in his action. 2. of the trial was paid into court by the Company. Scintilore is vigourously pursuing its legal action against prospectors, John Larche and Donald McKinnon, Teck Corporation, International Corona Resources, HGM Inc. and Hemlo Gold Mines Inc. to claim all benefits and proceeds received or to be received by Larche and McKinnon from the claims staked by or on behalf of them in the Hemlo gold field in Northern Ontario. The David Bell Mine and part of the Golden Giant Mine The Golden Giant Mine was an underground gold mine in the Hemlo mining camp in Canada, located north of Lake Superior, midway between Sault Ste. Marie and Thunder Bay, Ontario near the town of Marathon. are located on these claims. The common shares of the Company are listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (SLP-T). CONTACT: Scintilore Explorations Limited, Toronto Theodore H. Polisuk, 514/861-8546 REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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