CALGARY, Alberta, March 17, 2003 (PRIMEZONE) -- Leader Mining International Inc. (TSX Venture Exchange:LMN) has arranged a private placement financing in the amount of $7.5 million at $3.00/share with a 1/2 warrant at $4.00/share, exercisable over a 12-month period.
The funding is being provided by the family of Mr. Jasi Nikhanj, the President & CEO of Leader Mining International Inc., and certain business associates.
The funds will be used to further advance the Cogburn Magnesium Project in BC towards production, as well as to advance the Tantalum early stage exploration project in Northern Saskatchewan.
This financing is subject to all the regulatory approvals and the restructuring of the Board of Directors as required by the investors, and is expected to be completed in the next two weeks.
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
FOR FURTHER INFORMATION CONTACT:
MR. JASI NIKHANJ, President & CEO AT: Tel: (403) 234-7501, Fax: (403) 234-7504, E-mail: gen-info@leadermining.com
Or
Mr. John Chapman, Acting Project Manager - Cogburn Magnesium Project AT: (604) 536-8356, Fax: (604) 536-8351, E-mail: jacms1@sprynet.com