Langis Silver & Cobalt Mining Company

March 30, 2005 16:30 ET

Langis Silver & Cobalt Mining Company Limited Announces Completion Of Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: LANGIS SILVER & COBALT MINING COMPANY

TSX VENTURE SYMBOL: LSM

MARCH 30, 2005 - 16:30 ET

Langis Silver & Cobalt Mining Company Limited
Announces Completion Of Private Placement

TORONTO, ONTARIO---(CCNMatthews - March 30, 2005) - Langis Silver &
Cobalt Mining Company Limited (TSX VENTURE:LSM) is pleased to announced
that it has closed its previously announced non-brokered private
placement financing to raise gross proceeds of $360,000, subject to
final approval of the TSX Venture Exchange. Pursuant to the financing,
Langis issued an aggregate of 3,000,000 units at a price of $0.12 per
unit, each unit consisting of one common share and one share purchase
warrant. Each share purchase warrant entitles the holder thereof to
acquire one additional common share of Langis at a price of $0.25 until
March 30, 2007. The securities issued in connection with the financing
will be subject to a hold period of four months and one day from the
date of issuance.

Pursuant to the financing, an aggregate of 2,175,000 units were issued
to insiders of Langis, together with their associated entities and
related parties. In this regard, an aggregate of 2,000,000 units were
acquired by Mr. Patrick Sheridan (an officer and director of Langis); an
aggregate of 75,000 units were acquired by Mr. Rory Calhoun (a director
of Langis); and an aggregate of 100,000 units were acquired by Mr. Brent
Peters (the Chief Financial Officer of Langis).

Proceeds of the offering will be used for general corporate purposes.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Langis Silver & Cobalt Mining Company Limited
    Patrick Sheridan Jr.
    President and Secretary-Treasurer
    (416) 628-5936
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the accuracy or adequacy of this release.