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Gold/Mining/Energy : Spokane Resources V:SKN

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To: Adjuster who wrote (23)12/14/1997 5:35:00 PM
From: John Soileau  Read Replies (1) of 51
 
A little news, a little dilution:
P R E S S R E L E A S E The Company wishes to announce that it has arranged a Flow Through Private Placement of 1,029,412 Units, at a purchase price of $0.34 per Unit to raise a total of $350,008 (the "Funds"). Each Unit is comprised of One Flow Through Common Share and one warrant to acquire a common share for two year period ending February 28, 1997, at $0.50 per share. The Warrants will be issued upon closing and will be transferable. The Funds will be placed in escrow, with the flow through shares being issued against payment out of escrow from time to time upon the Company producing receipts for qualifying expenditures on Canadian properties. The Company has until May 28, 1998, but not later than December 31, 1998 to incur, and renounce in favour of the investor in an amount equal to the Funds, expenditures on Canadian resource properties that qualify for flow through tax treatment. The Company will expend the funds on exploration of its Canadian resource properties. The placement remains subject to the approval of Regulatory Authorities
ON BEHALF OF THE BOARD
SPOKANE RESOURCES LTD.
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