Business
Altair Announces Proposed Private Placement
Altair Announces Proposed Private Placement
About this update from Altair Resources, Inc.
[{"type":"text","content":"\nAltair Announces Proposed Private Placement\n\n\n Oct. 14, 2010 (TheNewswire.ca) -- Vancouver, BC -October 14, 2010: Altair Ventures Incorporated (TSXV:AVX) (\"Altair\")(TSX-V: AVX)announces that it plans to raise up to $749,000 in a non-brokered private placement financing (the \"Offering\"). The Offering consists of up to 3.3 million in Flow-Through Units (the \"FT Units\") at $0.16 per FT Unit for gross proceeds of up to $528,000, and up to 1.7 million in non-flow-through Units (\"the Units\") at $0.13 per Unit for gross proceeds of up to $221,000. Each FT Unit and each Unit will consist of one common share and one-half of a common share purchase warrant. Each full warrant included in the FT Units will entitle the holder to purchase one additional Altair common share for $0.23 and each full warrant included in the Units will entitle the holder to purchase one additional Altair common share for $0.20. All of the warrants will be exercisable for a period of twelve months from the closing date of the Offering. Finder's fees may be payable on all, or part, of the Offering.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. (TSX-V: CZS) and for general working capital purposes.The Offering is subject to acceptance by the TSX Venture Exchange.For further information please contact Justin Schroenn at 604 780 1371, fax at (604) 688-8309 or e-mail [email protected] Ventures IncorporatedPer: \"Fayyaz Alimohamed\"Fayyaz Alimohamed, President & CEOThis news release contains certain \"forward-looking statements\", within the meaning ofCanadian securities legislation, relating to a proposed private placement financing andthe 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 basedon 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 to be accurate and actual results and future events could differ materi...