Claim Post Resources Inc. Announces Completion of Financing and Correction of Prior News Release
December 05 2012 - 10:24AM
Marketwired
Claim Post Resources Inc. (TSX VENTURE:CPS) (the "Company")
announces that its previously announced private placement financing
has expired, as described in its news releases dated October 3,
2012 and October 24, 2012. The Company issued a total of 9,425,000
common shares for total gross proceeds of $942,500.
In connection with the closing of the financing, the Company
paid total cash finder fees of $65,975 and issued a total of
649,750 finder warrants, with each finder warrant exercisable into
one share at a price of $0.10 per share in year one and $0.15 per
share in the second year, expiring 24 months from the date of
closing of the Offering.
The Company's prior press release dated October 3, 2012
incorrectly reported the total common shares, gross proceeds
received and finder fees paid.
The proceeds from the financing will be used to make the initial
payment of $800,000 to Char-Crete Ltd. for the $1,500,000
acquisition of the silica sand quarry project located near
Seymourville, 200km NE of Winnipeg, Manitoba (Canada) (see news
release of August 27, 2012), and for general working capital
purposes.
All securities issued in connection with the financing will be
subject to a statutory four month hold period.
Claim Post Resources intends to maintain its exploration
properties in Timmins, Ontario which are highly prospective for
both gold and base metals. The Company continues to seek joint
venture partners and strategic arrangements with other companies in
the industry to advance the exploration of the large Timmins land
holdings.
Claim Post Resources Inc. is a Canadian based mineral
exploration company and a reporting issuer in Ontario, Alberta and
British Columbia. The Company currently holds a 100% interest in
the minerals rights to about 1145 staked claim units and 63
patented claims (approx. 200 km sq. or 72 sq. miles), wholly within
the city limits of Timmins, Ontario. The Company continues to stake
ground as it becomes available. There are 45,788,831 common shares
of the Company issued and outstanding.
Statements in this release that are forward-looking reflect the
Company's current views and expectations with respect to its
performance, business, and future events. Such statements are
subject to various risks and assumptions, some, but not necessarily
all, are disclosed elsewhere in the Company's periodic filings with
Canadian securities regulators. Such statements and information
contained herein represent management's best judgment as of the
date hereof based on the information currently available; however
actual results and events may vary significantly. The Company does
not assume the obligation to update any forward-looking
statement.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Claim Post Resources Inc. Charles Gryba President and
Director 416-203-1681 Claim Post Resources Inc. Peter Gryba
Corporate Affairs 416-203-3776 www.claimpostresources.com