Information posted is accurate at the time of posting, but may be superseded by subsequent press releases.
Canadian Gold Hunter Corp.: $4.1 Million Private Placement
Apr 7, 2004 - 01:37 ET
FOR FURTHER INFORMATION PLEASE CONTACT:
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Apr 07, 2004) - (CGH - TSX) Canadian Gold Hunter Corp. (the "Company") is pleased to announce that it has agreed to sell, on a private placement basis, up to 2,500,000 Flow-Through Common Shares at a price of $1.25 per share and up to 750,000 Units (Non Flow Through) at a price of $1.25 per Unit for total gross proceeds of up to $4,062,500. Each Unit will comprise one Common Share and one-half of a Share Purchase Warrant. Each whole Warrant is exercisable into one Common Share over a period of 18 months at a price of $1.50 per share. In the event that the Common Shares trade at an average price above $1.75 for a period of 10 consecutive trading days at any time after the Closing Date, then the warrants shall expire 30 days from such event.
Dundee Securities Corporation will act as agent in connection with the private placement. The private placement is subject to regulatory approval.
The gross proceeds of the Flow-Through Shares shall be used for the exploration of the Company's current Canadian exploration projects. The Company will use its best efforts to ensure that the exploration expenditures qualify for the investment expenditure credits for purposes of the Income Tax Act (Canada). The gross proceeds of the Units will be used for general working capital purposes.
ON BEHALF OF THE BOARD
Richard J. Bailes, President
International Curator Resources Ltd.
(604) 689-4250 (FAX)