| ||Tue Mar 23, 2004|
Muskox Minerals Corp. Announces successful closing of $2,035,000 Private Placement
| ||CALGARY, ALBERTA --- Muskox Minerals Corp. (the "Corporation") (MSK:TSXV) is pleased to announce that it has closed the private placement that was first announced in its press release dated March 3, 2004. The Corporation sold 6,783,333 units ("Regular Units") at an issue price of $0.30 per Regular Unit for gross proceeds of $2,035,000, with each Regular Unit consisting of one common share and one half common share purchase warrant ("Warrant"). The Warrants allow for the purchase of one common share at a price of $0.40 and are exercisable for two years. The securities issued are subject to a statutory restricted period of twelve months, which expires on March 23, 2005, subject to a potential reduction in the statutory restricted period to four months should the new Multilateral Instrument 45-102 come into force on March 30, 2004. |
MCM Ltd., Williams De Bröe Plc, VSA Resources and Ocean Equities Ltd. received finders fees in consideration of services provided to the Corporation in connection with the private placement. MCM received a cash payment of $97,175, Williams De Bröe received a cash payment of $50,000, VSA Resources received a cash payment of $4,500 plus 15,000 Warrants and Ocean Equities received a cash payment of $16,200.
The Corporation will use the proceeds to accelerate the exploration work on the Atlin Gold Project in British Columbia as previously announced in its March 17, 2004 press release.
ON BEHALF OF THE BOARD OF
MUSKOX MINERALS CORP.
Dr. Roger D. Morton
President and CEO
Muskox Minerals Corp. is a Tier One Company listed on the TSX Venture Exchange (symbol: MSK-V). The Company is exploring for Gold in the Atlin area of British Columbia, Canada and is joint ventured with Anglo American Exploration (Canada) Ltd. on its Nickel-Copper-Palladium and Platinum project on the Muskox Layered Intrusion in Nunavut, Arctic Canada.
For further information, contact Mr. Tom Corcoran at:
Phone: 1 (877) 339-3344
Email: info@ muskoxminerals.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
You can view the Next News Releases item: Wed Mar 24, 2004, Muskox Mineral Corporation's Drilling Success Continues On The Yellow Jacket Gold Property, Atlin, British Columbia
You can view the Previous News Releases item: Wed Mar 17, 2004, Accelerated exploration program approved for the Yellow Jacket gold property, Atlin, British Columbia
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