Claim Post Resources Inc. Announces Further Increase of Non-Brokered Private Placement
11 Juni 2014 - 4:30PM
Marketwired
Claim Post Resources Inc. Announces Further Increase of
Non-Brokered Private Placement
TORONTO, ONTARIO--(Marketwired - Jun 11, 2014) - Claim Post
Resources Inc. (TSX-VENTURE:CPS) (the "Company") is pleased to
announce that due to overwhelming interest it intends to increase
the size of its recently announced non-brokered private placement
offering (the "Offering"). The Offering will now be for up to a
total of 19,000,000 common share units (the "Units") and up to a
total of 3,000,000 flow-through units (the "Flow-Through Units").
The Units will be offered at a price of $0.08 per Unit with each
Unit consisting of one common share of the Company and one-half of
a warrant (each whole warrant a "Warrant"). Each Warrant is
exercisable for one common share in the capital of the Company at a
price of $0.12 per share for a six month period. The Flow-Through
Units will be offered at a price of $0.09 per share with each
Flow-Through Unit consisting of one flow-through common share and
one-half of a Warrant. Each Warrant comprising the Flow-Through
Unit is exercisable for one common share in the capital of the
Company at a price of $0.12 per share for a six month period. The
aggregate gross proceeds of the Offering will be now up to
$1,790,000.
The proceeds received from the Offering will be used (1) make
the $350,000 Gossan Resources payment, (2) to carry out a minimum
1,000 meter drilling program towards increasing the 25,000,000
tonne resource estimation of the "Seymourville Frac Sand Project"
in accordance with NI 43-101 rules (April 29th, 2014 Press Release
filed on SEDAR); (3) to complete a Scoping Study on the project
(Preliminary Economic Assessment). which will give Claim Post the
ability release project economics and test market frac sand; and
(4) for general working capital purposes.
All securities issued will be subject to a four (4) month hold
period from the date of closing. The Offering is subject to the
approval of the TSX Venture Exchange. At closing of the Offering,
finder fees of 7% of the proceeds may be payable in cash, and
finder warrants equal to 7% of the number of securities issued
which are exercisable at the price of $0.12 per share and expiring
6 months from the date of closing of the Offering may be
payable.
Charles Gryba, CEO of the Company, stated: "We are very pleased
at the strong interest from investors in this financing and the
confidence this expresses in the future of the Company. These funds
will allow us more financial flexibility to move the frac sand
project forward. Claim Post Board members and major shareholders
are subscribing for approximately 60% of the offering."
Claim Post Resources Inc. is a Canadian based mineral
exploration company and a reporting issuer in Ontario, Alberta and
British Columbia. The Company is focused on becoming a leading
provider of premium white silica sand proppant to oil operations in
the Williston Basin (both the Canadian and U.S. sides of the
Border), and to the oil and natural gas plays in the Western
Canadian Sedimentary Basin from its Seymourville Frac Sand Project,
located 200 km northeast of Winnipeg, Manitoba. There are
96,452,164 common shares of the Company currently 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.
Claim Post Resources Inc.Charles GrybaPresident and
Director416-801-6366Claim Post Resources Inc.Peter GrybaCorporate
Affairs416-203-3776www.claimpostresources.com
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