February 26, 2004
Ore-Leave Capital Inc. announces closing of its public offering.
TORONTO, Feb. 26 /CNW/ - Ore-Leave Capital Inc. ("Ore-Leave" the
"Corporation") (OLV.) announced today that it has closed its public offering
of units for gross proceeds of $1.325 Million. The units, which were priced at
$0.25 each, consisted of one common share and one common share purchase
warrant. Each warrant is exercisable at a price of $0.35 for a period of
twelve months from closing. The offering prospectus for the units also
qualified the exercise of 13,740,000 special which were previously issued in
connection with the company' qualifying transaction as reported in a press
release dated October 17th, 2003. Each special warrant upon exercise thereof
entitled the holder to receive one common share and one common share purchase
warrant exercisable at a price of $0.30 up to August 30th 2005. As a result of
the above, the Corporation will now have 48,662,262 common shares issued and
outstanding.
The proceeds from the public offering will be applied to ongoing
exploration and development activities and will provide the Company with
additional working capital so that it may take advantage of any new
acquisition opportunities which may arise.
Ore - Leave Capital is an exploration company principally involved in the
exploration and development of gold properties in the Carpathian Arc regions
of Romania and Hungary.
The TSX Venture Exchange Inc. has in no way passed judgement upon the
merits of the proposed transaction and has neither approved or disapproved the
contents of this press release.
%SEDAR: 00018939E
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For further information: Ore-Leave Capital Inc.: Dino Titaro, President
(416) 368-7744 (ext.226)
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