Sino Pacific Development Ltd.

Sino Pacific Development Ltd.

January 05, 2005 15:38 ET

Sino Pacific Development Ltd.: Corporate Finance Update


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: SINO PACIFIC DEVELOPMENT LTD.

NEX BOARD SYMBOL: SPV.H

JANUARY 5, 2005 - 15:38 ET

Sino Pacific Development Ltd.: Corporate Finance Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 5, 2005) - Sino Pacific
Development Ltd. (NEX BOARD:SPV.H)

Mr. Allen Rose reports:

Sino Pacific Development Ltd. today announced that, subject to
TSX-Venture Exchange approval, the company will be undertaking the
following corporate finance transactions:

Graduation to TSX Venture Exchange

In August 2003, the Company was transferred to the NEX Board of the
TSX-Venture Exchange. While the NEX Board is intended for inactive
companies, the Company has reactivated operations over the last 10
months and on December 15, 2004 it applied to the TSX-Venture Exchange
to reactivate its listing as a Tier 2 Issuer. While the Company believes
it will be successful at obtaining the Tier 2 listing, one of the Tier
Maintenance Requirements is sufficient working capital.

Private Placement

Subject to Exchange approval, the Company will be raising up to $600,000
through a non-brokered private placement for 3,000,000 units at $0.20.
Each unit will consist of one common share and one non-transferable
warrant, each warrant to entitle the unit-holder to purchase one new
common share of the company at a price of $0.25 for 1-year and $0.30 for
a subsequent 1-year period.

The proceeds from this financing will be used for general working
capital and exploration expenditure obligations on its mineral
properties. A finder's fee of up to 10% may be paid to arms length
parties with respect to the private placement.

Incentive Stock Options

Subject to Exchange approval, the Company has granted incentive stock
options to directors, officers and consultants of the Company to
purchase up to an aggregate amount of 850,000 common shares at an
exercise price of $0.20 per share for a three (3) year term.

ON BEHALF OF THE BOARD OF DIRECTORS:

T. Allen Rose, Director

This release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21B of the
Securities Exchange Act of 1934. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs, plans,
projections, objectives, goals, assumptions or future events or
performance are not statements of historical fact and may be
"forward-looking statements." Forward-looking statements are based on
expectations, estimates and projections at the time the statements are
made that involve a number of risks and uncertainties which could cause
actual results or events to differ materially from those presently
anticipated. Forward-looking statements in this action may be identified
through the use of words such as expects, "will," "anticipates,"
"estimates," "believes," or statements indicating certain actions "may,"
"could," or "might" occur.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Sino Pacific Development Ltd.
    T. Allen Rose
    Director
    (604) 257-3604 or Toll Free: 1-800-404-0833
    Email: info@sinopacific.ca
    Website: www.sinopacific.ca