Cameo Industries Corp - Ordinary Shares V.CRU

More Hwini Butre News

[Oxyurid]

A follow-up to the previous post reveals that St. Jude certainly takes this project seriously, since they have raised money to take the project to feasability. "St. Jude Announces $15 million Financing for West Africa Gold Exploration 11/5/03 VANCOUVER, British Columbia, Nov 5, 2003 (BUSINESS WIRE) -- St. Jude Resources Ltd. (SJD-TSX.V) is pleased to announce that it has entered into an agreement, subject to regulatory approval, to raise CDN$15 million with Haywood Securities Inc. and Salman Partners Inc. (collectively, the 'agents'). St. Jude will sell up to 7.5 million units ('Units') at $2.00 per Unit ('Unit Price') for gross proceeds of up to CDN$15 million. Each Unit will consist of one common share, plus one half of one common share purchase warrant, with each full warrant entitling the holder to purchase one additional common share of St. Jude at a price of CDN$3.00 for a period of five (5) years following the Closing Date. The company has also agreed to a greenshoe option, exercisable prior the Closing Date, to increase the size of the offering for up to 1.5 million Units at CDN$2.00 for up to an additional CDN$3 million in gross proceeds. All shares issued in this private placement will be subject to the standard hold period imposed by Exchange Policies. The proceeds of this private placement will be applied towards advancing the company's gold deposits at Hwini-Butre to feasibility, for further resource development at Benso, for resource definition at Goulagou/Rounga, and for general working capital purposes." Well Crew, what are we going to do with this project? GLTA Cheers, Oxyurid