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ICS Closes Private Placement of CAD $250,000 and Provides Exploration Update on Excelsior Gold
ICS Closes Private Placement of CAD $250,000 and Provides Exploration Update on Excelsior Gold
About this update from Carlton Precious Inc
[{"type":"text","content":"\n\n\n\n Dec. 13, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nABBOTSFORD, BC, Dec. 13 /CNW/ - ICS Copper Systems Ltd. (ICX:TSX.V) is\n pleased to announce that it has closed the non-brokered private\n placement announced on November 24th, 2010 by the issuance of 3,125,000 units at a price of $0.08 per unit\n for gross proceeds of CAD $250,000. Each unit consists of one common\n share and one share purchase warrant, each warrant entitling the holder\n to purchase one additional common share in the capital of the Company\n at a price of $0.10 if exercised on or before December 8, 2011 and at\n $0.15 per share thereafter. The warrants expire on December 8, 2012.\n\n\nThe warrants are subject to accelerated expiry if common shares trade at\n or above $0.20 in any 20 consecutive trading day periods ending after\n the date that is four months and a day after the closing. All\n securities are subject to a hold period of four months and one day\n expiring on April 9th 2011. No commission was paid on the private placement.\n\n\nProceeds of the private placement will be used by the Company to pay for\n mapping and sampling and phase 1 drill exploration costs for the\n Excelsior Springs Gold project and for general working capital.\n\n\nExcelsior Springs Gold Exploration Update\n\n\nThe company is pleased to issue this progress report on its ongoing\n exploration program at Excelsior Springs, an advanced-stage,\n sediment-hosted gold project near Tonopah, Nevada. Previous exploration\...