Currie Rose Resources Inc.: Private Placement
April 20 2010 - 9:00AM
Marketwired
Currie Rose Resources Inc. (TSX VENTURE: CUI) intends to complete a
non-brokered private placement consisting of up to 10,833,333 units
at a price of $0.06 per unit for gross proceeds of up to $650,000.
Each unit shall consist of one common share of the Company and
one-half of one share purchase warrant, each whole warrant
entitling the holder thereof to purchase one additional common
share at a price of $0.10 for a period of 18 months from the
closing date.
The expiry date of the warrants will be accelerated to shorten
the exercise period to 30 days should the shares of the Company
trade at $0.20 or higher for a period of 20 consecutive trading
days. Such acceleration will only occur after the hold period
expires.
Finder's fees will be paid equal to 8% cash fee of the total
amount raised and 10% of the total Units sold in the form of
finder's warrants, whereby one finder's warrant entitles the holder
to acquire one Common Share of the Company at $0.10 per share for a
period of eighteen months from the date of issue. The finder's
warrants will have the same accelerated expiry date provision as
the warrants under the private placement.
Proceeds from the financing will be used to advance the
Company's Mabale "Sisu River" gold project in Tanzania.
A series of grab samples from Artisanal pits on the Sisu River
prospect that forms part of the 100-per-cent-owned Mabale Hills
project in Tanzania, East Africa were previously disclosed in a
news release dated March 8, 2010. A total of 13 samples were
collected from in situ material,consisting of sheared/silicified
quartz porphyry with minor pyrite and arsenopyrite accessory
minerals. The sample area contains numerous artisanal pits,
covering an area of approximately 150 metres by 30 metres, with
colluvial overburden approximately two to three metres deep.
Of the 13 samples collected, six returned better than five g/t
gold, with a high of 89.2 g/t, while a further five samples
returned grades between one g/t gold to five g/t gold. Only two
samples returned values below one g/t gold.
BY ORDER OF THE BOARD OF DIRECTORS OF CURRIE ROSE RESOURCES
INC.
Harold Smith, President
Neither the 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.
Contacts: Currie Rose Resources Inc. Harold Smith President
(905) 688-9115 info@currierose.com www.currierose.com
Currie Rose Resources (TSXV:CUI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Currie Rose Resources (TSXV:CUI)
Historical Stock Chart
From Jul 2023 to Jul 2024