First Narrows 3,871,519-share private placement

2007-10-19 16:29 ET - Private Placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Sept. 18, 2007.

First tranche

Number of shares:  3,871,519 shares

Purchase price:  45 cents per share

Warrants:  1,935,759 share purchase warrants to purchase 1,935,759 shares

Warrant exercise price:  70 cents per share for a two-year period

Number of hidden placees:  38 placees

Finders' fees:  $33,075 cash payable to Otis Munday; $5,400 cash payable to William de Broe; $2,160 cash payable to Union Securities Ltd.; $2,975 cash payable to Marek Jacina; $11,250 cash and 25,000 units payable to Matthew Cormack; 123,708 units payable to the Simple Investor Ltd. (Doug Beiers); 8,000 units payable to Mike Denbigh. Units are under the same terms as those to be issued pursuant to the private placement

First Narrows 597,462-share private placement

2007-10-19 16:50 ET - Private Placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Sept. 18, 2007.

Second tranche

Number of shares:  597,462 shares

Purchase price:  45 cents per share

Warrants:  298,731 share purchase warrants to purchase 298,731 shares

Warrant exercise price:  70 cents per share for a two-year period

Number of hidden placees:  10 placees

Finders' fees:  $14,850 cash and 40,000 units payable to Matthew Cormack; 15,000 units payable to the Simple Investor Ltd. (Doug Beiers). Units are under the same terms as those to be issued pursuant to the private placement