VANCOUVER, April 28 /CNW/ - Network Exploration Ltd. (the "Company")
(TSX.V: NET) is pleased to announce that the Company will be conducting a
private placement to raise gross proceeds of up to CDN $180,000.
Under the terms of the private placement, the Company will offer a
maximum of 6,000,000 Units at a price of three cents per Unit. Each Unit will
consist of one common share of the Company and one full share purchase Warrant
where each Warrant will allow the subscriber to purchase one additional common
share of the Company at a price of five cents for a period of one year
following the close of the private placement.
Units issued will be subject to a four-month hold period following the
closing of the private placement. Proceeds from this offering will be used for
working capital and general corporate purposes. Finder's fees may be
The private placement and the finder's fee are subject to the acceptance
by the TSX Venture Exchange.
Network Exploration Ltd. is a mineral exploration company committed to
building shareholder value through the acquisition of base and precious metal
properties in North and South America.
ON BEHALF OF THE BOARD OF DIRECTORS
Forward-Looking Statements: This news release has been prepared by
management. This document contains certain forward looking statements which
involve known and unknown risks, delays, and uncertainties not under the
Company's control which may cause actual results, performance or achievements
of the Company to be materially different from the results, performance or
achievements implied by these forward looking statements.
THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
This news release contains certain "Forward-Looking Statements" within
the meaning of Section 21E of the United States Securities Exchange Act of
1934, as amended. All statements, other than statements of historical fact,
included herein are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's expectations are
disclosed in the Company's documents filed from time to time with the British
Columbia Securities Commission and the United States Securities & Exchange
For further information:
For further information: please contact the office at (604) 638-7363 or
toll-free at 1-866-637-5138, or visit www.networkexploration.com