| ||Tue Sep 2, 2003|
Muskox Minerals Corp. Announces Closing of Final Tranche of Private Placement
| ||Muskox Minerals Corp. (the "Corporation") (MSK:TSXV) is pleased to announce that on August 29, 2003 it closed the second and final tranche of the private placement that was first announced in its press release dated June 10, 2003 for proceeds of $434,150. The Corporation sold 760,000 units ("Regular Units") at an issue price of $0.14 per Regular Unit for gross proceeds of $106,400, with each Regular Unit consisting of one common share and one common share purchase warrant ("Warrant"). The Corporation also sold 2,184,999 units ("Flow-Through Units") at an issue price of $0.15 per Flow-Through Unit for gross proceeds of $327,750, with each Flow-Through Unit consisting of one common share and one Warrant. The Warrants allow for the purchase of one common share at a price of $0.20 and are exercisable for one year. The securities issued are subject to a restricted period of four months which expires on December 30, 2003. William Dynes, a director and officer of the Corporation, purchased 166,667 Flow-Through Units for a subscription price of $25,000. Granite Associates Ltd., Thomas Kovacs and Donal Douglas received finders fees in consideration of services provided to the Corporation in connection with the second tranche of the private placement. Granite Associates Ltd. received a cash payment of $7,120. Thomas Kovacs received 200,000 Warrants and Donal Douglas received a cash payment of $6,468.|
The total amount raised under the private placement was $1,066,740, including $327,750 in flow-through funds. The Corporation continues to focus on the exploration and development of its mineral properties.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the release.
For further information from Muskox Minerals Corp., please contact the following persons: Dr. Roger D. Morton CEO, Phone: (780) 413-3479; Additional information on the company may be sought at Muskox Mineral's website: www.muskoxminerals.com
You can view the Next News Releases item: Tue Sep 23, 2003, Muskox Minerals Corp. and Anglo American Exploration (Canada) Ltd. Completion of Phase 1 program on the Muskox Layered Intrusion
You can view the Previous News Releases item: Thu Aug 21, 2003, Muskox Minerals Corp. and Anglo American Exploration (Canada) Ltd. Commencement of drill program on the Muskox Layered Intrusion
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