|Thu Dec 30, 2004|
Sultan Minerals Closes Non-Brokered Financing
|Sultan Minerals Inc. (SUL-TSX Venture) ("Sultan") is pleased to announce that it has closed a private placement financing previously announced December 21, 2004, of 1,000,000 units (the "Units") at a price of $0.15 per Unit for gross proceeds of $150,000. Each Unit is comprised of one common share in the capital of Sultan and one non-transferable share purchase warrant. Each share purchase warrant entitles the holder to purchase one additional common share of Sultan at an exercise price of $0.20 per share, expiring December 23, 2005.|
There were no bonuses, finder's fees or commissions in cash or securities paid by Sultan in connection with the private placement. All shares, warrants and any shares issued upon exercise of the warrants with respect to the private placement are subject to a four month hold period and may not be traded until after April 24, 2005.
Proceeds from the non-brokered private placement will be used to fund exploration programs on the Company's Coripampa property situated in Peru, and for general working capital.
For further information on the Company's projects, visit www.sultanminerals.com.
Shannon M. Ross, CA
Corporate Secretary and CFO
For further information please contact:
Tel: (604) 687-4622 Fax: (604) 687-4212
T. J. Malcolm Powell - Email: IR@langmining.com
No regulatory authority has approved or disapproved the information contained in this news release.
You can view the Previous 2004 News Releases item: Tue Dec 21, 2004, Sultan Minerals Announces $150,000 Private Placement Financing
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