| ||Fri Aug 26, 2005|
PMI Ventures Ltd. Announces $500,000 Non-Brokered Private Placement
| ||PMI Ventures Ltd. (the "Company")[TSX Venture:PMV], is pleased to announce a non-brokered private placement of up to 2,500,000 Units of the Company at a price of $0.20 per Unit to raise gross proceeds of up to $500,000. Each Unit will consist of one common share and one share purchase warrant, each share purchase warrant entitling the holder to acquire one additional common share of the Company for a period of one year at a price of $0.30 per share. Funds raised will be used for continuing the IP (induced polarisation) survey and to initiate the drill program along a 14 kms. by 3 kms. zone in the Asankrangwa gold belt of southwest Ghana, West Africa and general working capital. |
This placement is subject to acceptance by regulatory authorities. The shares issued under the private placement will be subject to a four-month hold period from the date of TSX Venture Exchange approval.
On behalf of the Board,
For further information please contact:
Douglas R. MacQuarrie, President
Telephone: (604) 682-8089
Toll-Free: (888) 682-8089
Facsimile: (604) 682-8094
Or visit the PMI Ventures Ltd. website at http://www.pmiventures.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release contains forward-looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward-looking statements.
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