Business
SUPREME CLOSES PRIVATE PLACEMENT
Apr. 21, 2011 (TheNewswire.ca) -- COQUITLAM, BRITISH COLUMBIA, CANADA - SUPREME RESOURCES LT...
About this update from Super Lithium Corp.
[{"type":"text","content":"\nSUPREME CLOSES PRIVATE PLACEMENT\n\n Apr. 21, 2011 (TheNewswire.ca) -- COQUITLAM, BRITISH COLUMBIA, CANADA - SUPREME RESOURCES LTD. (TSXV:SPR) (OOTC:SPRWF) (SPR-TSX.V, SPRWF-OTC)(\"Supreme\" or the \"Company\") announces that it has closed a non-brokered private placement (the \"Private Placement\") announced on March 29, 2011 by the issuance of 3,471,666 units for gross proceeds of $399,599.92.The Private Placement consists of two parts:1. $85,000 was raised through the issuance of 850,000 non-flow-through units (\"NFT Units\") at a price of $0.10 per NFT Unit, each NFT Unit consisting of one non-flow-through common share and one-half of a non-transferable share purchase warrant (\"NFT Warrant\"). Each whole NFT Warrant entitles the holder to purchase one additional non-flow-through common share in the capital of the Company on or before April 19, 2012 at an exercise price of $0.20 per share.2. $314,599.92 was raised through the issuance of 2,621,666 flow-through units (\"FT Units\") at a price of $0.12 per FT Unit, each FT Unit consisting of one flow-through common share and one-half of a non-transferable share purchase warrant (\"FT Warrant\"). Each whole FT Warrant entitles the holder to purchase one additional non-flow-through common share in the capital of the Company on or before April 19, 2011 at an exercise price of $0.20 per share.In connection with certain subscriptions of the Private Placement, the Company paid an aggregate of $23,164.80 in cash finder's fees to Raymond James Ltd. and Union Securities Ltd. The finder's fees represent 8% of the gross proceeds raised through them in the Private Placement.All securities issued by the Company pursuant to the Private Placement are subject to a hold period of four months and one day and cannot be resold until August 21, 2011.Proceeds of the Private Placement will be spent on the Company's TAS and Verde Projects located in the Copper Mountain Mining (TSX:CUM) Camp near Princeton, British Columbia and the Ample-Goldmax Property located near Lillooet, British Columbia and for general working capital. Proceeds from the sale of FT Units will be used to incur expenditures which qualify as Canadian exploration expenses while proceeds from the sale of NFT Units will be used for both exploration expenses and general working capital.Further news will be forthcoming in the near fut...