Sea Green Capital Corp.
TSX VENTURE : SGS

Sea Green Capital Corp.

October 04, 2005 13:47 ET

Sea Green Capital Corp. Announces Completion Of $370,000 Financing

TORONTO, ONTARIO--(CCNMatthews - Oct. 4, 2005) - Sea Green Capital Corp. (TSX VENTURE:SGS) (the "Corporation" or "Sea Green") is pleased to announce that it has completed, subject to the approval of the TSX Venture Exchange, a $370,000 financing (the "Financing") made up of $200,000 in units (the "Units") at a subscription price of $0.05 per Unit and $170,000 in flow-through units (the "FT Units") at a subscription price of $0.05 per FT Unit. Each Unit consists of one common share of the Corporation and one warrant (a "Warrant"), each Warrant entitling the holder to purchase one common share of the Corporation at a price of $0.15 per share for a period of 12 months. Each FT Unit consists of one flow-through share of the Corporation and one-half of one warrant (a "FT Warrant"), each whole FT Warrant entitling the holder to purchase one common share of the Corporation at a price of $0.15 per share for a period of 12 months.

The securities issued pursuant to the Financing are subject to restrictions on transfer for a period of four months from closing.

The proceeds of the Financing are being used to fund the Corporation's ongoing exploration activities in Godfrey and Jessop townships in Ontario, the Lackner Lake uranium prospect and the Corporation's properties in Casa Berardi, Quebec. In addition, the proceeds will be used to reduce certain outstanding liabilities and debts of the Corporation.

Sea Green is continuing to evaluate new property opportunities in Ontario near to its holdings in Bristol township.

The TSX Venture Exchange has not in any way passed upon the merits of the matters disclosed herein, and has not approved or disapproved the contents of this press release.

Contact Information

  • Sea Green Capital Corp.
    R. Brian Murray
    (416) 985-7810