Business
Claim Post Resources Inc. Announces Increase of Non-Brokered Private Placement
Toronto, Ontario--(Newsfile Corp. - June 2, 2014) - Claim Post Resources Inc. (TSXV: CPS) (t...
About this update from Canadian Premium Sand, Inc.
[{"type":"text","content":"\nClaim Post Resources Inc. Announces Increase of Non-Brokered Private PlacementToronto, Ontario--(Newsfile Corp. - June 2, 2014) - \nClaim Post Resources Inc. (TSXV: CPS) (the “Company”) is pleased to announce that due to increased interest it intends to increase the size of its recently \nannounced non-brokered private placement offering (the “Offering”).The Offering will now be for up to a total of 15,000,000 common share units (the “Units”) and up to a total of 2,300,000 flow-through units ( the \n“Flow-Through Units”). The Units will be offered at a price of $0.08 per Unit with each Unit consisting of one common share of the Company and one-half of a warrant (each whole warrant a “Warrant”). Each Warrant is \nexercisable for one common share in the capital of the Company at a price of $0.12 per share for a six month period. The Flow-Through Units will be offered at a price of $0.09 per share with each Flow-Through Unit consisting of one \nflow-through common share and one-half of a Warrant. Each Warrant comprising the Flow-Through Unit is exercisable for one common share in the capital of the Company at a price of $0.12 per share for a six month period. The aggregate gross \nproceeds of the Offering will be now up to approximately $1,400,000. \n\nThe proceeds received from the Offering will be used (1) make the $350,000 Gossan Resources payment, (2) to carry out a minimum 1,000 meter drilling program towards increasing the 25,000,000 tonne resource estimation of the “Seymourville \nFrac Sand Project” in accordance with NI 43-101 rules (April 29th, 2014 Press Release filed on Sedar); (3) to complete a Scoping Study on the project (Preliminary Economic Assessment) which will give Claim Post the ability to release \nproject economics and test market frac sand; and (4) for general working capital purposes. \n\nAll securities issued will be subject to a four (4) month hold period from the date of closing. The Offering is subject to the approval of the TSX Venture Exchange. At closing of the Offering, finder fees of 7% of the proceeds may be payable in \ncash, and finder warrants equal to 7% of the number of securities issued which are exercisable at the price of $0.12 per share and expiring 6 months from the date of closing of the Offering may be...