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News

KLM: TSX-V
$0.01

News

Feb 13, 2003

Private Placement

#2003-03

The Company wishes to announce that it has closed on its private placement of 1,340,000 Units (the "Units") for aggregate proceeds of $201,000. The Units were comprised of 800,332 flow-through common shares, 539,668 non-flow-through common shares (together, the "Shares"), and 1,340,000 share purchase warrants. Each share purchase warrant entitles the holder to purchase an additional common share (the "Warrant Shares") of the Company for a period of two years from closing at a price of $0.25 per share for non flow through units and $0.30 per share for flow through units. The Shares and Warrant Shares are subject to a hold period expiring June 12, 2003.

ON BEHALF OF THE BOARD OF DIRECTORS

"Donald G. Moore"


PRESIDENT & DIRECTOR

No Stock Exchange Has Approved or Disapproved The Information Contained Herein