Post by
faitaccompli on Nov 26, 2004 12:47am
true to be good tymo..mon ami
Mr. Paul Matysek reports
CLAN RESOURCES ANNOUNCES BROKERED PRIVATE PLACEMENT FOR UP TO $1.95 MILLION AND APPOINTMENT TO TECHNICAL ADVISORY BOARD
Clan Resources Ltd. has entered into an agreement with Toll Cross Securities Inc. in respect of a best efforts private placement to raise up to $1.95-million through the issuance of up to 1.3 million common shares at a price of $1.50 per share. Clan is also pleased to announce that the Resolute Growth Fund will participate in the offering. The net proceeds of the offering will be used to advance Clan's prospective uranium properties in Arizona, Wyoming, Utah and Nevada. Closing, which is subject to regulatory approval, will be on or about Nov. 30, 2004.
Clan has also appointed Dr. Douglas H. Underhill, PhD, MBA, to its technical advisory board. Dr. Underhill has 35 years of international experience with natural resource development and analysis. He has broad-based experience in all phases of commercial uranium programs, as well as being a uranium specialist at the International Atomic Energy Agency in Vienna. He is a uranium expert widely recognized in the international arena. His specialties include world uranium geology and resources, project evaluation -- including both conventional and in situ leach, through supply/demand analysis. He prepared the IAEA contribution to the biennial joint OECD/NEA-IAEA world report "Uranium Resources, Production and Demand" (the "Red Book") from 1993 to 2000.