28,148,543 shares issued
NEWS RELEASE
Date:
May 7, 1999MILLSTREAM WORKING CAPITAL FINANCING
Millstream Mines Ltd. wishes to announce the closing of the following working capital financings:
Private Placement of 900,000 units in the capital of Millstream purchased @ $0.50 per unit. Each unit consists of one common voting share and one share purchase warrant exercisable for eighteen months at a price of $0.75 per share. All participants were at arms-length to the company.
Additionally, flow-through warrants were exercised for 8,334 common voting shares at a price of $0.45 per share, and directors options were exercised for 83,333 shares at a price of $0.30 per share.
The aggregate total funds raised from the above is $428,750.30 from the total issuance of 991,667 common voting shares.
Millstream, further wishes to announce and remind the interested public of its web site location, WWW.MILLSTREAMMINES.COM .
The principle objective of Millstream Mines Ltd. is to enhance and develop known mineral properties to production potential. Millstream holds mineral claims or interests, directly or through wholly owned subsidiaries in Canada, USA, and the Czech Republic.
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No regulatory authority or similar body approved nor disapproved the information contained herein.