Claim Post Resources Inc. Announces Extension of Private Placement
01 February 2014 - 6:20AM
Marketwired Canada
Claim Post Resources Inc. (TSX VENTURE:CPS) (the "Company") announces that it
has extended its non-brokered private placement offering (the "Offering") for an
additional 30 day period from February 3, 2014. The first tranche of the
Offering closed on December 18, 2013 for gross proceeds for $135,000 (see press
release dated December 24, 2013) and the second tranche closed today for gross
proceeds of $68,000. The Company issued a total of 1,360,000 Units, with each
Unit consisting of one common share and one warrant. Each warrant entitles the
holder to purchase one common share of the Company at a purchase price of $0.10
per share for a period of 36 months from the date of issuance.
In connection with the closing of the second tranche of the Offering, the
Company paid total cash finder fees of $4,760 and issued a total of 95,200
three-year finder warrants at a strike price of $0.10. The aggregate proceeds
received from the Offering will be used (1) to carry out a minimum 1,000 meter
drilling program towards completing a resource estimation of the "Seymourville
Frac Sand Project" in accordance with NI 43-101 standards; (2) to complete a
scoping study on the project (Preliminary Economic Assessment); which will allow
the Company to test the market for forward selling Frac Sand; and (3) for
general working capital purposes.
All securities issued are subject to a four (4) month hold period from the date
of closing.
Claim Post Resources Inc. is a Canadian based mineral exploration company and a
reporting issuer in Ontario, Alberta and British Columbia. The Company is
focused on becoming a leading provider of premium white silica sand proppant to
oil operations the Williston Basin (both the Canadian and U.S. sides of the
Border), and natural gas operations in the Montney and Horn River basins along
the Alberta - British Columbia border from its Seymourville Frac Sand Project,
located northeast of Winnipeg, Manitoba. Claim Post also has mineral claims in
the Timmins area for gold and base metal exploration. There are 96,452,164
common shares of the Company currently issued and outstanding.
Statements in this release that are forward-looking reflect the Company's
current views and expectations with respect to its performance, business, and
future events. Such statements are subject to various risks and assumptions,
some, but not necessarily all, are disclosed elsewhere in the Company's periodic
filings with Canadian securities regulators. Such statements and information
contained herein represent management's best judgment as of the date hereof
based on the information currently available; however actual results and events
may vary significantly. The Company does not assume the obligation to update any
forward-looking statement.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Claim Post Resources Inc.
Charles Gryba
President and Director
416-801-6366
Claim Post Resources Inc.
Peter Gryba
Corporate Affairs
416-203-3776
www.claimpostresources.com
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