Business
Search Minerals closes second tranche of non-brokered financing; Appoints Executive Vice President
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About this update from Search Minerals Inc.
[{"type":"text","content":"\n\n\n/THIS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES./\n\n\nVANCOUVER, Sept. 8, 2014 /CNW/ - Search Minerals Inc. (\"Search\" or the \"Company\") (TSXV: SMY) is pleased to announce that the Company has closed the\n second tranche of its $2,000,000 non-brokered private placement\n financing announced on July 31, 2014 (see: Search Minerals Announces Private Placement, July 31, 2014). The Company issued 5,960,000 units (the \"Units\") at a price of $0.05 per Unit for gross proceeds of $298,000 and\n aggregate proceeds to date of $713,000.  Each Unit is comprised of one\n common share of the Company and one common share purchase warrant of\n the Company.  Each warrant is exercisable into one additional common\n share of the Company for a period of 24 months from closing of the\n private placement at an exercise price of $0.10.\n\n\nFive Insiders acquired 4,280,000 Units pursuant to the financing.  All\n securities issued at closing are subject to a four month hold period\n which will expire on January 9, 2014. The Company anticipates\n completing the third and final tranche in the coming weeks.\n\n\nThe Company also wishes to announce the appointment of Mr. Greg Andrews\n as Executive Vice President and Corporate Secretary.  Mr. Andrews\n brings over 20 years of private and public company experience in\n financings and administration.\n\n\nJim Clucas states, \"We are excited to welcome Greg back to Search\n Minerals, he is well acquainted with Search and its operations, as he\n was a consultant to the Company prior to July 2013.  Greg will be a\n welcome addition to the Company for strategic planning, budgeting and\n corporate development\"\n\n\nAbout Search Minerals:\n\n\nSearch Minerals Inc. (TSXV: SMY) is a TSX Venture Exchange listed\n company focused on creating value through finding and developing\n mineral assets with growing demand and constrained or restricted\n supply, and with increasing use in innovative technologies.\n\n\nSearch is the discoverer of the Port Hope Simpson REE District, a highly\n prospective light and heavy REE belt located in southeast Labrador,\n where the Company controls a dominant land position in a belt 70 km\n long and up to 8 km wide. In addition, Search holds a number of\n additional mineral prospects in Newfou...