Verena Minerals Corporation

Verena Minerals Corporation

February 28, 2005 17:00 ET

Verena Minerals Corporation: Press Release


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: VERENA MINERALS CORPORATION

TSX VENTURE SYMBOL: VML

FEBRUARY 28, 2005 - 17:00 ET

Verena Minerals Corporation: Press Release

TORONTO, ONTARIO--(CCNMatthews - Feb. 28, 2005) - Verena Minerals
Corporation (the "Company") (TSX VENTURE:VML) announces that on February
25, 2005 an aggregate of 200,000 incentive stock options (the "Options")
were granted to an insider, officer and director of the Company,
exercisable at $0.14 a share, being no less than the previous day's
closing price of the Company's shares on the TSX Venture Exchange. The
Options are exercisable for a period of five-years from the date of
grant.

Additionally, it is announced that the Company has agreed to the terms
of a private placement of up to 3,571,429 units at $0.14 a unit for
gross proceeds, if fully subscribed, of $500,000 to the Company. Each
unit will be comprised of one common share and 1/2 of one share purchase
warrant, each whole warrant being exercisable for an additional share
for up to one-year at an exercise price of $0.18. The placement will be
brokered for a negotiated commission of 6% paid in cash. The securities
issued under the private placement are subject to a four-month resale
restriction and the entire placement is subject to TSX Venture Exchange
approval.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Verena Minerals Corporation
    Stephen Shefsky
    President
    (416) 924-4337
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.