Business
SUPREME RESOURCES LTD. ANNOUNCES PRIVATE PLACEMENT
SUPREME RESOURCES LTD. ANNOUNCES PRIVATE PLACEMENT
About this update from Super Lithium Corp.
[{"type":"text","content":"\nSUPREME RESOURCES LTD. ANNOUNCES PRIVATE PLACEMENT\n\n\n Sep. 1, 2010 (TheNewswire.ca) -- SUPREME RESOURCES LTD. (the \"Company\") announces a non-brokered private placement financing to raise gross proceeds of up to $400,000 (the \"Private Placement\"). The Private Placement will consist of two parts:1. An aggregate of up to $200,000 through the issuance of up to 2,500,000 units (\"NFT Units\") at a price of $0.08 per NFT Unit, each NFT Unit consisting of one non-flow-through common share and one-half of a transferable share purchase warrant (\"NFT Warrant\"). Each whole NFT Warrant will entitle the holder to purchase one additional non-flow-through common share in the capital of the Company for a period of twelve months from the date of issuance of the NFT Units, at an exercise price of $0.15 per share.2. An aggregate of up to $200,000 through the issuance of up to 2,000,000 units (\"FT Units\") at a price of $0.10 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 will entitle the holder to purchase one additional non-flow-through common share in the capital of the Company for a period of twelve months from the date of issuance of the FT Units, at an exercise price of $0.15 per share.The Company may pay finder's fees to arm's length parties (\"Finders\") in connection with the Private Placement, equal up to 10% of the subscription proceeds realized from the sale of the Units by the respective Finder, at the discretion of the Company, payable in cash. The securities issued will be subject to a hold period of four months and one day.Proceeds of the Private Placement will be spent on the Company's TAS and Verde Projects located in the Copper Mountain Mining 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.The Private Placement will be subject to approval by the TSX Venture Exchange.Further news will be forthcoming in the near future.ON BEHALF OF THE BOARDPer: \"Allan Levien\"Allan LevienPresiden...