News Release
May 7, 2002
PRIVATE PLACEMENT
Ballad Ventures Ltd. (the “Company”) announces that it has agreed to a private placement of its securities to raise $400,000 which will consist of the sale of 2,000,000 units at $0.20 per unit, each unit consisting of one common share and one two-year non-transferable share purchase warrant with each such share purchase warrant entitling each holder to purchase one additional common share of the Company at a price of $0.25 per share. A portion of the private placement may be issued on a flow-through basis.
The proceeds of the private placement will be used for general corporate purposes including reducing debt and funding the Company’s operations including the possible acquisitions of interests in resource properties in Peru.
The private placement is subject to acceptance for filing by the TSX Venture Exchange.
BALLAD VENTURES LTD.
Per:
Anthony J. Beruschi, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.