Network Exploration Announces Private Placement
Vancouver,
British Columbia: Network Exploration Ltd. (the "Company") (TSX.V: NET)
is pleased to announce that the Company will be conducting a private
placement to raise gross proceeds of up to CDN $1,500,000.
Under
the terms of the private placement, the Company will offer a maximum of
15,000,000 Units at a price of 10 cents per Unit. Each Unit will
consist of one common share of the Company and one full share purchase
Warrant, where each Warrant will allow the subscriber to purchase one
additional common share of the Company at either 15 cents during the
first year following the closing of the private placement or at 25
cents during the second year following the closing of the private
placement.
In
the event that the Company's common shares trade at a closing price on the
TSX Venture Exchange of greater than 40 cents per share for a period of 20
consecutive trading days at any time after four months and one day following
the closing date, the Company may accelerate the expiry date of the Warrants
by giving notice to the holders thereof and in such case the Warrants will
expire on the 30th day after the date of such notice.
Units
issued will be subject to a four-month hold period following the closing of
the private placement. Proceeds from this offering will be used for exploration
of the Company's properties, working capital and general corporate purposes.
Finder's fees may be applicable.
The
private placement and the finder's fee are subject to the acceptance by the
TSX Venture Exchange.
Network
Exploration Ltd. is a mineral exploration Company committed to building shareholder
value through the acquisition of base and precious metal properties in North
and South America. For additional information, contact the company at 604
638-7363 (toll free 866 637-5138).
Network Exploration
Ltd.
www.networkexploration.com
(604) 638-7363
We seek Safe
Harbor.
