Toronto-based Ego Resources (TSE) has arranged a private placement of 1.25 million units at 40 cents per unit with Nanisivik Mines, a unit of Conwest Exploration (TSE). The units consist of a mixture of flow-through shares and share purchase warrants for an aggregate purchase price of $500,000. The warrants are exercisable at a price of 45 cents per share at any time prior to July 31, 1991.
Ego intends to use the flow- through funds from the placement on its BB Lake base metal property in the Northwest Territories.
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