Indicator Minerals Closes Private Placement
2010年11月1日 - 9:30PM
Marketwired
Indicator Minerals Inc. (the "Company") (TSX VENTURE: IME)
announced today that it has completed its previously announced
non-brokered private placement of units.
At the closing Indicator issued 9,000,000 units (the "Units") at
a price of $0.08 per Unit for gross proceeds of $720,000 (the
"Private Placement"). Each unit is comprised of one common share
and one transferable share purchase warrant of the Company (the
"Warrants"). Each Warrant is exercisable to purchase one common
share of the Company at a price of $0.12 per share until October
29, 2012, subject to an acceleration provision in the event the
closing price of the Company's shares on the TSX Venture Exchange
(the "Exchange") is $0.16 or higher for at least 10 consecutive
trading days beginning after March 1, 2011.
Finder's fees consisting of $40,250 in cash and 503,125
non-transferable finder warrants, representing 7% of the proceeds
raised and 7% of the number of Units issued, respectively, were
paid to seven finders in respect of certain subscriptions under the
Private Placement. Each finder warrant is exercisable to purchase
one common share of the Company at a price of $0.15 per share until
October 29, 2012.
All securities issued or issuable under the Private Placement
are subject to a hold period and may not be traded until March 1,
2011 except as permitted by Canadian securities legislation and the
Exchange.
Indicator intends to use the proceeds for exploration
expenditures on its properties and for general working capital and
other corporate expenditures.
About Indicator Minerals:
Indicator Minerals Inc. is a Canadian exploration company
focused on the discovery and development of economic mineral
deposits. Founded in 2004, the Company has assembled one of the
most qualified technical teams in worldwide exploration. Management
has quickly positioned the Company to be a sophisticated player in
both Canadian and international exploration by forming strategic
partnerships, acquiring highly prospective properties and
conducting systematic and efficient exploration programs.
Cautionary Notice: This release may contain forward-looking
statements regarding the Company's business or financial condition,
including the proposed use of proceeds and exploration programs.
Actual results could differ materially from those described in this
news release as a result of factors, including, but not limited to
the following: the timing and completion of financings, the actual
use of proceeds, the timing, results and success of exploration and
development programs, financial arrangements, the ability to obtain
additional financing, developments in global resource markets,
political developments, the timing of regulatory and environmental
approvals and other factors. The Company cautions that these and
similar statements involve risk and uncertainties, which could
cause actual results to differ materially from those in the forward
looking statement. Forward-looking statements are made in the
context of information available as of the date stated. The Company
undertakes no obligations to update or revise such statements to
reflect new circumstances or unanticipated events as they occur,
unless required by applicable law.
On behalf of the Board
Indicator Minerals Inc.
Bruce Counts, P.Geoph., President & CEO
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.
Contacts: Indicator Minerals Inc. Bruce Counts President &
CEO (604) 331-4605 or Toll Free: 1-877-331-4605 (604) 331-4654
(FAX) www.indicatorminerals.com
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