Mr. Paul Matysek reports
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OCEAN PARK ANNOUNCES $2,000,000 PRIVATE PLACEMENT
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Ocean Park Ventures Corp., subject to regulatory approval, willconduct a non-brokered private placement of up to 3.7 millionflow-through common shares at a price of 55 cents per share, for grossproceeds of up to $2,035,000. The company has agreed to allocate aportion of the offering to subscribers found by Axemen Resource CapitalLtd., an exempt market dealer, and may agree to similar allocations toother exempt market or investment dealers. The company will pay finders'fees equal to 5 per cent of subscription amounts received, payable incash or non-flow-through shares, in addition to finders' warrants equalto 5 per cent of the number of shares subscribed for, each exercisableinto one non-flow-through common share of the company at a price of 55cents per share for a period of 18 months from closing.
The financing remains subject to the approval of the exchange. Allsecurities issued pursuant to the private placement will be subject to afour-month hold period.
The funds raised from the financing will be used to finance explorationon the Trapper gold project recently optioned by the company.
The company also announces the appointment of Tony M. Ricci as adirector of the company. Mr. Ricci has been the chief financial officerof the company since August and is a chartered accountant with over 20years of practice experience with public companies listed in Canada andthe United States. Mr. Ricci is also the current chief financial officerof Keegan Resources Inc. He was a former director and CFO of NorsemontMining Inc. and CFO of both Petaquilla Minerals Ltd. and PetaquillaCopper Ltd., companies with a combined market capitalization approaching$1-billion. Mr. Ricci was formerly with KPMG and AMEC Engineering Inc.