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Pele Mountain Completes Flow-Through Private Placement and Common Share Private Placement.

TORONTO, ONTARIO, Sep 30, 2005 (CCNMatthews via COMTEX) -- Pele Mountain Resources (TSX VENTURE:GEM) ("Pele" or the "Company") is pleased to announce that it has completed, subject to regulatory approval, a private placement to eleven (11) arm's length subscribers of a total of 1,800,000 flow-through units in the capital of Pele (each a "Flow-Through Unit") at a purchase price of $0.25 per Flow-Through Unit for gross proceeds of $450,000 (the "Flow-Through Offering"). Each Flow-Through Unit is comprised of one (1) flow-through common share (each a "Flow-Through Share") and one-half (1/2) non-transferable Series R purchase warrant (each a "Series R Warrant"), where each whole ...

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