Explor Closes a Private Placement of $300,000
25 December 2013 - 2:49AM
Marketwired
Explor Closes a Private Placement of $300,000
ROUYN-NORANDA, CANADA--(Marketwired - Dec 24, 2013) - Explor
Resources Inc.
(TSX-VENTURE:EXS)(OTCQX:EXSFD)(FRANKFURT:E1H1)(BERLIN:E1H1)
("Explor" or the "Corporation") is pleased to announce that it has
closed a non-brokered private placement of Flow-Through Units (the
"Private Placement") for a total gross amount of CDN $300,000.
The Private Placement consists of 2,727,272 flow-through units
at a price of $0.11 each. Each Flow-Through Unit consists of one
(1) common share issued on a flow-through basis and of one half
(1/2) common share purchase warrant. Each whole warrant entitles
the subscriber to purchase one (1) common share of the Corporation
at a price of $0.15 each for a period of 24 months, expiring on
December 24, 2015.
Explor will use the proceeds of the Private Placement to incur
exploration expenses on its mining properties located in the
Province of Québec.
The securities issued pursuant to the Private Placement are
subject to a hold period of four months and a day from the date of
closing. This Private Placement is subject to the final approval of
the TSX Venture Exchange.
Explor Resources Inc. is a publicly listed company trading on
the TSX Venture (EXS), on the OTCQX (EXSFD) and on the Frankfurt
and Berlin Stock Exchanges (E1H1).
This Press Release was prepared by Explor. Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the Policies of the TSX Venture Exchange) has
reviewed or accepts responsibility for the adequacy or accuracy of
this release.
About Explor Resources Inc.
Explor Resources Inc. is a Canadian-based natural resources
company with mineral holdings in Ontario, Québec, Saskatchewan and
New Brunswick. Explor is currently focused on exploration in the
Abitibi Greenstone Belt. The belt is found in both provinces of
Ontario and Québec with approximately 33% in Ontario and 67% in
Québec. The Belt has produced in excess of 180,000,000 ounces of
gold and 450,000,000 tonnes of cu-zn ore over the last 100
years.
This document may contain forward-looking statements
relating to Explor's operations or to the environment in which it
operates. Such statements are based on operations, estimates,
forecasts and projections. They are not guarantees of future
performance and involve risks and uncertainties that are difficult
to predict and may be beyond Explor's control. A number of
important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements,
including those set forth in other public filling. In addition,
such statements relate to the date on which they are made.
Consequently, undue reliance should not be placed on such
forward-looking statements. Explor disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
save and except as may be required by applicable securities
laws.
Christian Dupont, President888-997-4630 or
819-797-4630819-797-6050www.explorresources.comInvestor
Relations:Gary Lindsey, North America:1-720-273-6224Michael Adams,
Europe :info@star-ir.com
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