St. Genevieve Resources and Societe en Commandite Sofimines 1987 have entered into an agreement whereby Sofimines will contribute $326,400 towards the former’s exploration programs in exchange for 65,280 flow-through shares at $5 per share. (An incorrect price appeared in last week’s edition.)
Under the agreement, the general partner of Sofimines, Gestion Soficorp Inc., has the option to subscribe for an additional 38,961 common shares of St. Genevieve at $3.85 per share and shall receive, for services rendered, an additional 3,264 shares.
St. Genevieve says it has abandoned its proposed private placement with Societe en Commandite Maufort 1987.
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