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Pacific Topaz announces closing of non-brokered private placement
TSX–V: PPZ.H VANCOUVER , June 6, 2014 /CNW/ -  Pacific Topaz Resources L...
About this update from Seasif Exploration Inc.
[{"type":"text","content":"\n\nTSX–V: PPZ.H \n\n\n\nVANCOUVER, June 6, 2014 /CNW/ - Pacific Topaz Resources Ltd. (TSXV:  PPZ.H) (\"Pacific Topaz\" or the \"Company\") announces that further to its news release dated May 5, 2014, it has closed its non-brokered private placement of 4,000,000 units at a price of $0.07 per unit for gross proceeds of $280,000. \n\nEach unit consists of one common share and one full common share purchase warrant.  Each whole common share purchase warrant is exercisable at $0.10 per common share until June 4, 2015.   \n\nThe securities issued in connection with this private placement are subject to a four month statutory hold period expiring on October 5, 2014\n\nProceeds will be used for general working capital and for continuing to research opportunities in the natural resources sector.\n\nThe Company also announces that pursuant to the private placement, Radcliffe Corporation, a company owned and controlled by Frank Giustra, acquired 790,000 units at a price of $0.07/unit which consists of 790,000 common shares, representing 7.10% of the issued and outstanding common shares and 790,000 warrants representing 16.69% of the issued and outstanding warrants of the Company. \n\nAs a result of the acquisition of securities described above, Radcliffe Foundation, a charitable organization controlled by Frank Giustra, and Radcliffe Corporation hold in aggregate, 1,590,000 common shares of the Issuer, representing 14.30% of the current issued and outstanding shares of the Issuer and would own 2,380,000 common shares, representing 19.98% on a partially diluted basis, assuming exercise of the 790,000 warrants held by Radcliffe Corporation.\n\nThe Company has also been advised that pursuant to the private placement, Gordon Keep acquired 400,000 units at a price of $0.07/unit which consists of 400,000 common shares, representing 3.60% of the issued and outstanding common shares of the Issuer and 400,000 warrants representing 8.45% of the issued and outstanding warrants of the Issuer. Mr. Keep has ownership and control over these securities.\n\nAs a result of the acquisition of securities described above, Gordon Keep, GBK Investments (a corporation beneficially owned and controlled by Mr. Keep), The Keep Children (holdings, which Mr. Keep has trading authority and direction over but not beneficial ownership) a...