RE: Email from IR ~ Less dilution next PP !!!Recent Private placement, units at c25 cents.
next one? units at c1.45???
We can hope!
Michael
News Release – May 29, 2006
Skeena Re-Prices Private Placement
Skeena Resources Limited (TSX.V: SKE) wish to announce a revision to the terms of the proposed
private placement described in the Company’s news release dated May 2, 2006.
The Company is proposing to undertake a non-brokered, best efforts private placement of up to $1.25
million through the issuance of 5 million Units. Each Unit will be sold at a price of $0.25 and will be
comprised of one common share and one half of one share purchase warrant. Each full warrant will be
exercisable into one common share of the Company at an exercise price of $0.40 for a period of 18
months from the Closing Date. The expiry date of the warrants may be reduced, upon notice to holders
and at the election of the Company, if after the 4-month hold period the shares trade at a price equal to
or greater than $0.60 per share for 20 consecutive trading days. If this condition is met, and the
Company so elects, the exercise period will be reduced to 25 business days from the date notice is
provided by the Company to the warrant holders.
The financing is subject to regulatory approval and finder’s fees may be paid to accredited agents on that
portion of the funds raised by third parties. The proceeds of this Private Placement will be used to
advance the Company’s El Corazon gold project in northwest Ecuador, for acquisition of new, advanced
precious metal exploration projects in Latin America; and for general working capital.
Field work at El Corazon, consisting of trenching & sampling, surveying and core re-logging, is
underway and a 3,000 metre diamond drill program is scheduled for early summer.
On Behalf of the Board of Directors
SKEENA RESOURCES LIMITED
“Rupert Allan”
Rupert Allan, P.Geol., President
Cautionary Statement on Forward-Looking Information.
The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the
Company's expectations. Certain risk factors may also affect the actual results achieved by the Company. The TSX Venture Exchange has
not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.