Business
CFI Closes Private Placement to Extend Drilling at Grebes Nest
TSX Venture Exchange Trading Symbol: CFI (TSX-V) CNDFF (OTC) ST. JOHN'S , N...
About this update from Bonanza Mining Corporation
[{"type":"text","content":"\n\n\nTSX Venture Exchange Trading Symbol: CFI (TSX-V) CNDFF (OTC)\n\n\nST. JOHN'S, NL, Aug. 9, 2013 /CNW/ - Canada Fluorspar Inc. (TSX-V:CFI)\n (\"CFI\" or the \"Company\") is pleased to announce that the Company has\n closed a non-brokered private placement of 1,510,526 flow-through\n common shares (the \"Flow-Through Shares\") at a price of $0.19 per\n Flow-Through Share for gross proceeds of $286,999.94. Each Flow-Through\n Share is equal to one (1) common share in the capital of the Company\n and is issued on a flow-through basis.\n\n\n\"Based on positive results of the current drilling program at Grebes\n Nest, we have decided to extend the drilling and keep the drill rig on\n site,\" Lindsay Gorrill, President and CEO of the Company, said. \"We are\n also targeting a National Instrument 43-101 compliant technical report\n on this site.\"\n\n\nThe Company paid finder's fees of 6% in cash to certain introducing\n parties on the gross proceeds of the private placement attributable to\n the purchases made by purchasers introduced by such parties. Finder's\n fees totaling $17,220.00 have been paid with respect to this private\n placement.\n\n\nAll of the Flow-Through Shares issued pursuant to the private placement\n are subject to a four-month and one day hold period expiring on\n December 10, 2013.\n\n\nThe gross proceeds from the Flow-Through Shares will be used for the\n Company's continued exploration activities on the Director and Grebes\n Nest Veins and other fluorspar properties located on the Company's 100%\n owned mineral properties at St. Lawrence, Newfoundland.\n\n\nAbout the Company\n\n\nThe Company is a specialty mineral resource company engaged in the\n development of fluorspar deposits located in St. Lawrence,\n Newfoundland, Canada, and is reactivating the existing Blue Beach North\n and Tarefare underground fluorspar mines, expanding the existing mill,\n constructing a new, environmentally-sound Tailings Management Facility\n through Newspar, which it's a 50/50 joint venture with Arkema. The\n Company is also building a new deep-water marine terminal in the outer\n St. Lawrence Harbour for the export of fluorspar concentrate product.\n\n\nFor more information please see: www.canadafluorspar.com\n\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as\n that term is defined in the policies of ...