Minefinders completes private placement deal

Two private placement financings for a total of $400,000 have been completed recently by Minefinders (VSE) to fund its share of exploration expenses on three properties in northwestern Quebec.

The funds are being provided by private flow-through share agreements with the NIM Resource (1989) partnership. Under terms of the agreement, Minefinders will issue 141,844 shares from treasury to NIM at an average cost of $1.41 per share, and another 128,205 shares at $1.56 each.

The company has an option to earn a 50% interest in Greenstone Resources’ (TSE) Lada gold property near Chibougamau, Que., where drilling is under way. Other properties undergoing drill programs by Minefinders are in Dubuisson Twp. near Val d’Or, Que., and a third gold property in Malartic Twp., Que.