Sea Green Capital Corp. Announces Private Placement And Property Update.TORONTO -- Sea Green Capital Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:SGS SGS Société Générale de Surveillance SGS Symantec Gateway Security (appliance) SGS School of Graduate Studies SGS Subgrid Scale SGS Singapore Government Securities SGS Shell Global Solutions ) (the "Corporation" or "Sea Green") is pleased to announce that it is undertaking a non-brokered private placement of up to 6,000,000 units of the Corporation at a price of $0.07 per unit. Each unit consists of one common share (a "Common Share") of the Corporation and one Common Share purchase warrant (a "Warrant"). One Warrant entitles the holder to purchase one Common Share at a price of $0.12 per Common Share for a one year period from the date of closing. Proceeds of the private placement will be used to finance the exploration of its projects in the Casa Berardi area of Quebec. The Corporation also announces that it has completed its geophysical survey Geophysical survey refers to the systematic collection of geophysical data for spatial studies. Geophysical surveys may use a great variety of sensing instruments, and data may be collected from above or below the Earth's surface or from aerial or marine platforms. work on its South group of claims in the Casa Berardi area of Quebec which are adjacent to the Cambior/Cancor exploration property. These results are currently being assessed in order to identify targets for the Corporation's planned drilling program. Sea Green also announces that it has reached a verbal agreement to acquire an additional 50 cells adjacent to its North group of claims in the Casa Berardi are of Quebec for $10,000 and the issuance of 100,000 Common Shares, subject to a 1% net smelter royalty. This agreement is expected to be formalized for·mal·ize tr.v. for·mal·ized, for·mal·iz·ing, for·mal·iz·es 1. To give a definite form or shape to. 2. a. To make formal. b. in the next week. With this acquisition, the Corporation's land position totals 6,542 hectares. These claims are south of the Aurizon Mines deposit and west of the Noranda/Novicourt/Virginia Gold megatem project. Sea Green's partner in the North and South groups in the Casa Berardi area of Quebec is Explorers Alliance Corp.(as to 45%). Sea Green can increase its position to 70% by incurring additional expenditures. The Corporation also announces that it will have a booth at the North East Ontario Mining Symposium in Timmins on April 12 & 13 and updated property maps including geology and geophysical ge·o·phys·ics n. (used with a sing. verb) The physics of the earth and its environment, including the physics of fields such as meteorology, oceanography, and seismology. results will be on display. The Corporation also announces the granting of 500,000 stock options for directors and consultants at $0.10 for five years in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with the terms of the Corporation's stock option plan. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not in any way passed upon the merits of the matters disclosed herein, and has not approved or disapproved the contents of this press release. Sea Green Capital Corp. (TSX VENTURE:SGS) |
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