Business
Claim Post Resources Completes Third Tranche of Financing
Dec. 23, 2010 (Newsfile Corp.) -- Toronto, Ontario--(December 23, 2010) - Claim Post Resourc...
About this update from Canadian Premium Sand, Inc.
[{"type":"text","content":"\nClaim Post Resources Completes Third Tranche of Financing\n\n\n Dec. 23, 2010 (Newsfile Corp.) -- Toronto, Ontario--(December 23, 2010) - Claim Post Resources Inc. (\"CPS\"-TSX-V)(the \"Company\") is pleased to announce that on December 20, 2010 the Company completed the third tranche of its previously announced private placement financing. Pope & Company (the \"Agent\") acted as the agent in the private placement. The Company issued a total of 1,916,666 Flow-through Units for gross proceeds of $575,000. Each Flow Through Unit consists of one Flow Through share and one-half Warrant. Each Warrant entitles the holder thereof to purchase one common share at a price of CAD $0.50 per share at anytime until December 20, 2012. All securities issued on closing are subject to a four month hold period from the date of closing. The funds raised will primarily be used for advancing both the Dayton-Racetrack gold property and Kamiskotia base metal - gold properties within the city limits of Timmins Ontario. Charles Gryba President and CEO of Claim Post Resources (OOTC:CLMPF) (TSXV:CPS) made this comment: \"We are pleased to have completed the final tranche of the private placement which was brokered by Pope & Company who sponsored the listing of Claim Post in April, 2010. The majority of the Flow Through funds from this financing will be used to diamond drill the Dayton Gold Zone down plunge to the west; guided by the Deep IP program completed in September, 2010.\" In consideration of providing their financial advisory services the Agent and other selling group members received a cash fee of 8% of gross proceeds of the offering. The Agent and other selling group members also received 191,666 Broker Units which are convertible at the price of $0.25 per Unit into one common share and one-half Warrant. The Company also announces that it has granted an aggregate of 500,000 stock options to the directors, officers and consultants of the Company which are exercisable at an exercise price of $0.25 per share for a period of 3 years. Claim Post Resources Inc. is a Canadian based mineral exploration company and a reporting issuer in Ontario, Alberta and British Columbia. The Company currently holds a 100% interest in the mineral rights to about 1145 staked claim units and 63 patented claims (~200 km2 or 72 square miles) wholly within the city limits...