SEABRIGHT RESOURCES EQUITY ISSUE APPROVED
<Seabright Resources Inc>
said it received regulatory approvals for an issue in Canada of
up to 1.3 mln 1987 flow through units priced at 6.25 dlrs each
and 1.4 mln equity units priced at 4.30 dlrs each.
    Each 1987 flow through unit allows the holder to receive
one Seabright flow through common share, and the company
expects about 8.33 dlrs per flow through unit will be available
to subscribers as 1987 income tax deduction. Minimum
subscription is 500 units, the company said.
    Each equity unit comprises one common share and one-half
warrant for either a common share or one flow-through unit.
 Reuter
