|Tue Dec 21, 2004|
Sultan Minerals Announces $150,000 Private Placement Financing
|Sultan Minerals Inc. (SUL-TSX Venture) ("Sultan") is pleased to announce that subject to regulatory approval, the Company will carry out a non-brokered private placement of up to 1,000,000 units (the "Units") at a price of $0.15 per Unit, for gross proceeds of up to $150,000. Each Unit is comprised of one common share in the capital of Sultan and one non-transferable share purchase warrant. Each share purchase warrant will entitle the holder to purchase one additional common share of Sultan for a period of 12 months from closing, at an exercise price of $0.20 per share.|
There will be no bonuses, finder's fees or commissions in cash or securities paid by Sultan in connection with the non-brokered private placement. All shares, warrants and any shares issued upon exercise of the warrants with respect to the above private placements are subject to a hold period and may not be traded for four months from the date of issuance.
Proceeds from the non-brokered private placement will be used to fund exploration programs on the Company's Coripampa properties situated in Peru, and for general working capital.
Mr. Henry (Hank) Meixner, P.Eng. is the Company's supervisor and "Qualified Person" for the purpose of National Instrument 43-101, "Standards of Disclosure for Mineral Projects" for the Coripampa project.
For further information on the Company's projects, visit www.sultanminerals.com.
Arthur G. Troup, P.Eng.,Geological
President and CEO
For further information please contact:
Tel: (604) 687-4622 Fax: (604) 687-4212
T. J. Malcolm Powell - Email: IR@langmining.com
No regulatory authority has approved or disapproved the information contained in this news release.
You can view the Next 2004 News Releases item: Thu Dec 30, 2004, Sultan Minerals Closes Non-Brokered Financing
You can view the Previous 2004 News Releases item: Mon Dec 20, 2004, Sultan Minerals Expands Priority Silver/Gold Targets on Coripampa Properties, Peru
You can return to the main 2004 News Releases page, or press the Back button on your browser.