Matamec Explorations Inc. obtains Visa for Final Prospectus From QSC
12/10/01 - Val-d'Or (Quebec) , December 10, 2001-- Matamec Explorations Inc. has obtained its visa for the final prospectus submitted to the Quebec Securities Commission. The offer consists of the issuance of units A for a minimum of 290 units (290 000$), a maximum of 1 250 units A (1 250 000$) and a maximum of 200 units B (200 000$). Each unit A and B are offered at a price of 1 000$ Units A are composed of 3 000 flow-through shares of the company at a price of 0,2667$ per share (800$) and 800 commons shares at a price of 0,25$ (200$). Units B include 4 000 commons shares at a price of 0,25$ and each common share is accompanied by a purchase warrant providing the right to subscribe an additional common share at a price of 0,33$ any time until June 6, 2003. The subscription of units A is possible until December 31, 2001 and until June 30, 2002 for the units B.
Canaccord Capital Corporation is the managing dealer (brokering) for this prospectus. The company will pay a remuneration of 10 per cent on the gross proceeds of the offering. Canaccord does not receive option to purchase common shares in virtue of this public offering.
The proceeds of this placement will be used to finance the exploration program on the
Sakami Property (James-Bay); 100% owned by Matamec. Let us recall that excellent results were obtained during the first two drilling campaign; up to 2,51 g/t Au over 54,4 m (179') on zone 25 and 9,7 g/t Au over 11,8 m (38,7') including 28,7 g/t over 2,5 m (8,2') on zone 26. (References: Press releases published respectively on May 2nd and November 27th, 2001)
Results from hole EX-22 (the second and last hole on zone 26) and all other results will be available in the next few days.
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The Canadian Venture Exchange (CDNX) does not accept responsibility for the adequacy or accuracy of this release.
For further information, please contact :
MATAMEC EXPLORATIONS INC.
Mr Luc Lamarche, President
Phone: (819) 824-2688 Fax: (819) 824-2608
Email: [email protected]
Web site: http://www.matamec.com/
MATAMEC EXPLORATIONS INC
1576, Chemin Sullivan, bur. # 2
Val d'Or, Québec
Phone: (819) 824-2688
Fax: (819) 824-2608