NEWS RELEASE TRANSMITTED BY CCN NEWSWIRE
FOR: HIGH RIVER GOLD MINES LTD.
TSE SYMBOL: HRG
FEBRUARY 21, 2002 - 09:22 EST
High River Gold Closes $10 Million Unit Financing
TORONTO, ONTARIO--High River Gold Mines Ltd. is pleased to
announce that Sprott Securities Inc. (lead) and Dundee Securities
Corporation, as agents, have completed the sale, by way of private
placement, of 11,160,556 units of the Company for gross proceeds
Each unit consists of one common share and one half of one common
share purchase warrant. Each whole warrant is exercisable for one
share of the common stock of the Company for $1.20 for a period of
twelve months from the date of the closing of the private
The net proceeds received by High River from the private placement
will be used by the Company for general working capital purposes
and to facilitate the potential acquisition of new projects.
The securities have not been registered under the U.S. Securities
Act of 1933, as amended, and were not offered or sold in the
United States absent registration or an application exemption from
the registration requirements. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the securities in any State in
which such offer, solicitation or sale would be unlawful.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
FOR FURTHER INFORMATION PLEASE CONTACT:
High River Gold Mines Ltd.
President and CEO or Don Whalen, Chairman