In consideration of arranging the private placement, Jean-Pierre Bourtin of Hegenheim, France and Wolverton Securities Ltd. of Vancouver, B.C. received finder's fees with the Company issuing to them 181,000 and 24,000 finder's units, respectively. Each finder's unit has the same terms as the placees' units.
The shares and warrants forming part of the units, the finder's shares and finder's warrants forming part of the finder's units and any shares issued upon exercise of the warrants and finder's warrants are subject to a hold period and may not be traded in British Columbia until April 10, 2005 except as permitted by the Securities Act and the Rules made thereunder and the TSX Venture Exchange.
Energold Mining Ltd. has purchased 405,000 of the above units which, including the shares issuable upon exercise of the warrants and 393,334 shares issuable upon exercise of warrants expiring on April 14, 2005 previously acquired by Energold on April 14, 2004, will represent ownership and control of 6.70% of the currently issued and outstanding common shares of the Company. The issuance of the shares resulted in Energold currently owning, or exercising control over, 5,811,667 common shares of the Company, not including any shares issuable upon exercise of the warrants or any other warrants held by Energold, representing 33.86% of the issued and outstanding common shares of the Company. Energold has acquired the securities for investment purposes. It is its intention to evaluate the investment in the Company and to increase or decrease its shareholdings as circumstances require.
On behalf of IMPACT Minerals International Inc. "Frederick W. Davidson" | On behalf of Energold Mining Ltd. "Frederick W. Davidson" |
The TSX Venture Exchange has neither approved nor disapproved this news release.
