Over $11 million to be raised for Golden Triangle

Golden Triangle Mining Exploration says it has an agreement with Golden Day Explorations and Co., Ltd. Partnership, for the latter to provide Golden Triangle with up to $11,305,000.

Golden Triangle will issue to the Partnership, on or before March 30, 1988, flow-through shares, with the issue price per share to be 150% of the average of the closing price of the company’s common shares on the Montreal Exchange for 20 trading days preceding the date of the final prospectus of the public issue of units of the Partnership.

Gordon Keevil, Golden Triangle director, notes the above is conditional on the closing of public offerings of Golden Day Mining Exploration Inc., and Golden Day Explorations and Co., Ltd. Partnership.

Golden Triangle will use the funds to incur Canadian Exploration Expenses before the end of February, 1988, on mining companies owned or in which it has an interest.