Business
Champion Bear completes equity offering
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
About this update from Champion Bear Resources Ltd.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n\n\nDISSEMINATION IN THE UNITED STATES./\n\n\nCALGARY, July 24 /CNW/ - (TSX Venture: CBA), Champion Bear Resources Ltd.\n("Champion Bear" or the "Company") announced today that it has completed the\nprivate placement of 710,000 common shares at a price of $0.50 per share for\ntotal gross proceeds of $355,000.\n\n\nChampion Bear intends to use the proceeds of the offering for its\nexploration programs on its wholly-owned Eagle Rock Cu-Au-PGE Property located\nnear Dryden, Ontario and its wholly-owned Iron Mask Property located in\nSudbury, Ontario and for general corporate purposes. At the Eagle Rock\nProperty, Champion Bear intends to undertake a resource definition exploration\nprogram which will include the diamond drilling of up to 10,000 metres. In the\nSudbury area, work at Iron Mask includes the follow-up of recent IP anomalies\nwhich are coincident with surface outcroppings of Cu bearing Sudbury breccia\nby drilling three to five holes (up to 1,500 metres) to test the main targets\nand the completion of additional detailed surface surveys in the area. \nJoe Hinzer, P. Geo., a qualified person, of WGM, Champion Bear's consulting\ngeologists, will be overseeing the exploration programs.\n\n\nAll of the common shares issued by Champion Bear pursuant to the private\nplacement are subject to a hold period and restrictions on resale prior to\nNovember 25, 2008.\n\n\nThis news release shall not constitute an offer to sell or the\nsolicitation of any offer to buy the securities in any jurisdiction. The\nsecurities offered have not been and will not be registered under the United\nStates Securities Act of 1933, as amended (the "U.S. Securities Act"), and may\nnot be offered or sold within the United States or to, or for the account or\nbenefit of, U.S. persons except in certain transactions exempt from the\nregistration requirements of the U.S. Securities Act.\n\n\nChampion Bear is a mineral exploration company focused exclusively on the\nhistorically prospective regions of Ontario. The Company's primary target is\nplatinum group and precious metals and to a lesser extent polymetallic base\nmetal and pegmatite-hosted tantalum deposits. Champion Bear's aim is to create\nshareholder value through selective property acquisition and ...