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Fairmount Energy Announces Completion of Private Placement
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMER...
About this update from Fuerte Metals Corporation
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n\n\nTHE UNITED STATES OF AMERICA./\n\n\nCALGARY, Nov. 15 /CNW/ - Fairmount Energy Inc. ("Fairmount" or the\n"Corporation") (TSX-V: FMT) announces that it has completed its previously\nannounced private placement financing. The total gross proceeds of the\nfinancing, which includes the exercise in full of the underwriters' option,\nwere $5,000,800, resulting in the issuance of 3,572,000 common shares on a\nflow-through basis ("Flow-Through Shares") at a price of $1.40 per\nFlow-Through Share. The underwriting syndicate led by Dundee Securities\nCorporation and including Acumen Capital Finance Partners Limited, GMP\nSecurities L.P. and Blackmont Capital Inc. were paid a cash commission equal\nto 6% of the gross proceeds.\n\n\nDirectors, officers and employees of the Corporation, together with their\nspouses, acquired an aggregate of 296,500 Flow-Through Shares pursuant to the\nprivate placement. The Flow-Through Shares are subject to a four month hold\nperiod, expiring on March 16, 2008. Fairmount now has outstanding 17,243,889\nCommon Shares, as well as performance warrants and options entitling the\nholders to acquire an aggregate of up to a further 1,845,803 Common Shares.\n\n\nThe gross proceeds from the sale of the Flow-Through Shares will be used\nto incur eligible Canadian Exploration Expenses as defined in the Income Tax\nAct (Canada) which will be renounced in favor of the subscribers for the 2007\ntaxation year.\n\n\nThe Flow-Through Shares have not been and will not be registered under\nthe U.S. Securities Act of 1933 and may not be offered or sold in the United\nStates absent registration or an applicable exemption from the registration\nrequirements of such Act.\n\n\nThe TSX Venture Exchange Inc. does not accept responsibility for the\n\n\nadequacy or accuracy of this release.\n\n\nNot for distribution to U.S. newswire services or for dissemination in\nthe United States of America.\n\n\nADVISORY: This press release contains forward-looking statements. More\nparticularly, this press release contains statements concerning the\nanticipated use of the proceeds of the offering.\n\n\nAlthough Fairmount believes that the expectations reflected in these\nforward-looking statements are reasonable, undue reliance shoul...