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| | Fri Mar 28, 2003
First Au Closes Second Tranche Of Private Placement
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| | FIRST AU STRATEGIES CORP. (TSX-V:FAV; the "Company") has closed the second tranche of its private placement. An additional 970,000 shares (910,000 flow-through and 60,000 non flow-through) and 515,000 Series G share purchase warrants were issued at $0.10 for additional proceeds of $97,000. Each Series G warrant entitles the holder to purchase one common share of the Company at a price of $0.15 until March 19, 2004 and thereafter at a price of $0.20 per share until March 19, 2005.
In connection with this second tranche, the Company has paid cash finder's fees totalling $7,760 and has granted warrants to finders to purchase up to a total of 97,000 common shares. These warrants are exercisable on the same terms as specified above for the Series G warrants.
All common shares issued under this tranche of the placement, as well as common shares issuable on the exercise of the share purchase warrants, are subject to hold periods expiring July 29, 2003.
For further information contact Kaare Foy, Chief Financial Officer, at telephone 604 608 1766, fax 604 608 1744, e-mail oceanic@telus.net.
ON BEHALF OF THE BOARD
"Kaare G. Foy"
Kaare G. Foy, Director and CFO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. |
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| | You can view the Next News Releases item: Sun Mar 30, 2003, First Au Appoints Robert Archer As Company President
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