Business
Altair Announces Closing of Private Placement
Altair Announces Closing of Private Placement
About this update from Altair Resources, Inc.
[{"type":"text","content":"\nAltair Announces Closing of Private Placement\n\n\n Aug. 9, 2010 (TheNewswire.ca) -- Vancouver, BC - August 9, 2010: Altair Ventures Incorporated (TSXV:AVX) (\"Altair\" or the \"Company\")(TSX-V: AVX) is pleased to announce that on August 6, 2010 it closed its non-brokered private placement financing first announced on June 2, 2010. This closing consisted of a total of 2,500,000 units (the \"Units\") at $0.10 per Unit for gross proceeds of $250,000 (the \"Offering\"). Each Unit consists of one common share and one-half of a common share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share for $0.15. All of the warrants will be exercisable for a period of twelve months from the closing date of the Offering. In connection with the Offering, the Company paid a cash finder's fee of $17,500.The TSX Venture Exchange has conditionally accepted the Offering subject to the filing of final documents. None of the securities distributed under the Offering may be traded on the TSX Venture Exchange or otherwise sold in Canada or to or for the benefit of a resident of Canada before December 7, 2010 unless permitted under Canadian securities legislation and the rules of the TSX Venture Exchange.The net proceeds of the Offering will be used by Altair to fund expenditures on the Prospect Valley Gold Property, located in southern British Columbia under Altair's option agreement with Consolidated Spire Ventures Ltd. and for general working capital purposes.For further information please contact Fayyaz Alimohamed at (604) 641-1305, fax at (604) 688-8309 or e-mail [email protected] BEHALF OF THE BOARD\"Fayyaz Alimohamed\"Fayyaz Alimohamed, President & CEOThis news release contains certain \"forward-looking statements\", within the meaning of Canadian securities legislation, relating to a private placement financing and the proposed use of proceeds. Although Altair believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical fact. They are based on the beliefs, estimates and opinions of Altair's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove ...