TORONTO,
Dec. 21, 2012 /CNW/ - Asher
Resources Corp. ("Asher" or the "Company") (TSX-V: ACN) is
pleased to announce that it has raised $342,500 for the first tranche of the Company's
$1,000,000 non-brokered private
placement which will comprise of 4,000,000 units total. Each unit
will consist of one common share at $0.25 per share and one full common share
purchase warrant which may be exercised by the holder to purchase
an additional common share at a price of $0.35 with an expiry date 24-months from
closing.
The Company looks to raise an additional
$657,500 under the same terms as
described above which is expect to occur on or about January 21, 2013.
The proceeds from this private placement will be
used to advance Asher's King Mine property in Nevada, its Lavington property in British Columbia, and to provide additional
general working capital.
The company agreed to pay finders' fees to
arm's-length qualified parties. All securities issued will be
subject to a four-month hold period from closing.
This private placement remains subject to
regulatory approval.
About Asher Resources:
Asher Resources Corporation is a gold
exploration company headquartered in Toronto, Ontario, with a regional office in
Reno Nevada. Asher's mission
is to discover and develop high quality North American precious
metal resources with its current focus in southern BC and the
Nevada Great Basin.
Neither the 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.
The forward-looking information contained in
this press release is made as of the date hereof and Asher
undertakes no obligation to update publicly or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, unless so required by
applicable securities laws.
This news release does not constitute an offer
to sell or a solicitation of an offer to sell any securities in
the United States. The securities
have not been and will not be registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities laws
and may not be offered or sold within the
United States or to U.S. Persons unless registered under the
U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.
SOURCE Asher Resources Corporation