GREY:BHNGF - Post by User
Post by
rdwwon Nov 27, 2003 9:44pm
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Post# 6709894
$2,5MM in CSH and xploration on 5 projects
$2,5MM in CSH and xploration on 5 projectsPele warrants exercised to raise $371,280
Pele Mountain Resources Inc GEM
Shares issued 42,081,014 Nov 26 close $0.46
Thu 27 Nov 2003 News Release
Mr. Al Shefsky reports
CMP 2002 Resource LP has exercised warrants to purchase a total of 1.05
million flow-through common shares of Pele at 32 cents per share for total
gross proceeds to the company of $336,000. These funds will be spent on
qualified exploration expenditures before the end of 2004. In addition to
the foregoing, Dundee Securities Corp. also exercised a broker warrant to
purchase 147,000 common shares of Pele at 24 cents per share for total
gross proceeds to the company of $35,280.
The company has more than $2.5-million in cash or cash equivalents on hand
and exploration is advancing at all of the company's five mineral
exploration projects in Northern Ontario.
There are currently a total of
42,081,014 common shares of Pele issued and outstanding, which total
includes the shares issued on exercise of the warrants announced above.
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