Business Services Industry
Loubel Exploration Completes a $1 Million Public Financing
Business Wire, Dec 20, 1996
ROUYN-NORANDA, QUEBEC--(BUSINESS WIRE)--Dec. 20, 1996--LOUBEL INC.(ME LBX.) The management of Loubel Exploration is pleased to announce the completion of a public financing of $1,000,000 announced on December 2nd 1996.
The financing consists of an issue of 1 600 000 flow-through shares at $0.50 and 400 000 commons shares at $0.50. Each unit comes with one share purchase warrant exercisable into one common share at a price of $0.65, for an 18 months period. The proceed of the financing will be used mainly for a drilling program scheduled in January, on the Queylus property. Loubel expect to drill around 35 000 feet in January 1997.
A 5 000 feet drilling is underway and will be completed before Christmas. Assays results are expected in January.
THE MONTREAL EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE CONTENTS OF THIS PRESS RELEASE.
CONTACT: Loubel Exploration Inc.
Gilles Fiset, 819/797-8668
819/797-6050 (FAX)
1-800-388-8668
http://daisy.lino.com/-sdubuc/loubel
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