NEWS RELEASE
April 13, 2004
Resolve Ventures to raise $1.92-million for exploration
Mr. David Baker reports
Resolve Ventures has arranged a non-brokered private placement involving the issuance of seven million units for total proceeds of $1,925,000. Each unit will consist of one common share and one share purchase warrant.
The private placement will comprise 3.5 million non-flow through units priced at 25 cents per unit and 3.5 million flow-through units priced at 30 cents per unit. The warrants attached to the non-flow-through units will grant the warrant holder the right to acquire one common share at a price of 25 cents per share for a period of 24 months from the closing date. The warrants attached to the flow-through units have an exercise price of 30 cents per share for a similar period of 24 months from the closing date.
A finder's fee will apply in this transaction in accordance with the policies of the TSX Venture Exchange. Proceeds of the financing will be added to working capital and will be applied toward exploration expenditures budgeted for the company's mineral properties.
The company plans to complete an extensive exploration and drilling program on its Raglan-area properties in 2004.