Information posted is accurate at the time of posting, but may be superseded by subsequent press releases.
Canadian Gold Hunter Corp.: Private Placement Increased
Apr 20, 2004 - 11:29 ET
FOR FURTHER INFORMATION PLEASE CONTACT:
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Apr 20, 2004) - (CGH
- TSX) ... Canadian Gold Hunter Corp. (the "Company") reports
that it has agreed to increase the private placement of
Flow-Through Common Shares as announced on April 7, 2004 by up to
an additional 600,000 shares for gross proceeds of up to Cdn
$750,000. This additional private placement is non-brokered. All
other terms and conditions remain the same.
An aggregate of up to 3.1 million Flow-Through Common Shares will
now be sold 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 $4,812,500. 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.
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
ON BEHALF OF THE BOARD
Richard J. Bailes, President
Canadian Gold Hunter Corp.
(604) 689-4250 (FAX)