newsPacific Comox Resources Ltd. - Drilling has started on the Famosa and Mabel Properties - C$500,000 financing has closed
2/11/04
TORONTO, Feb 11, 2004 (CNW Telbec via COMTEX) --
Pacific Comox Resources Ltd.
(TSX-Ven: PCM) reports that the previously announced C$500,000 financing through a number of private placements has closed. The financing is in the form of units consisting of one share and one warrant exercisable for one share at C$0.20 to February 2, 2005. Each unit is priced at C$0.12. The securities will be subject to a hold period expiring on June 2, 2004. A finder's fee of 7% in units is payable on $138,000 of the financing.
The President of Pacific Comox, Donald Empey, subscribed for C$322,000 of the financing. This financing will increase the number of shares outstanding by 4,247,166 to 59,446,892.
The funds raised will be used for reverse circulation drilling programs on the Mabel gold property and the Famosa silver property, additional surface sampling on Famosa, and for working capital.
The drilling program started on the Famosa property on January 25 and on the Mabel property on February 6. The assays will be reported when available.
Donald Empey President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. %SEDAR: 00008918E
VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION: https://www.newswire.ca/en/releases/orgDisplay.cgi?okey=86785
For further information: James Janzen, Roger Scammell orDonald Empey at (416) 977-4653, fax: (416) 977-8335 or email atdaempey(at)attcanada.net or visit Pacific Comox's website atwww.pacificcomox.com; Renmark Financial Communications: Micheal Small,msmall(at)renmarkfinancial.com; Sylvain Laberge,slaberge(at)renmarkfinancial.com; Media: Colette Saulnier,csaulnier(at)renmarkfinancial.com; (514) 939-3989, Fax: (514) 939-3717,www.renmarkfinancial.com
News release via Canada NewsWire, Montreal 514-878-2520