Central Completes $750,000 Financing with MineralFields Group

Central Resources Corp. (TSX VENTURE:CBC) ("Central" or the "Company") is
pleased to announce the closing of a non-brokered private placement for gross
proceeds of $750,000 with the MineralFields Group through the sale of 3,750,000
flow-through units at a price of $0.20 per unit.


Each flow through unit consists of one flow-through common share and one half of
one non flow-through share purchase warrant. Each whole warrant will entitle the
holder to purchase one additional non flow-through common share of the Company
for a period of 12 months from closing at an exercise price of $0.40. The
Company may accelerate the expiry of the warrants (following the expiry of the 4
month hold period applicable to the warrants) if the twenty-day volume-weighted
average trading price of the shares on the TSX Venture Exchange (or such other
exchange on which the shares may be listed) exceeds $0.60 in which event the
warrant will expire 30 calendar days after the date that the Company provides
notice to the holders.


A cash finder's fee of $45,000 was paid to Limited Market Dealer Inc. ("LMD) in
connection with the financing. The Company also issued 375,000 finder's warrants
to LMD. Each finder's warrant will entitle the holder to purchase one non
flow-through common share of the Company for a period of 12 months from closing
at an exercise price of $0.40. The finder's warrants are subject to the same
acceleration provisions as the warrants issued as part of the flow-through units
sold in the private placement.


All securities issued under the private placement are subject to a statutory
hold period expiring on October 2, 2011.


The proceeds from the private placement will be used for exploration work on the
Company's Yukon mineral properties. The 2011 exploration program is planned to
consist of soil sampling and trenching to follow up gold soil anomalies
identified last year. A follow up diamond drill program is planned for fall.


About MineralFields, Pathway and First Canadian Securities

MineralFields Group (a division of Pathway Asset Management), based in Toronto,
Montreal, Vancouver and Calgary, is a mining fund with significant assets under
administration that offers its tax-advantaged super flow-through limited
partnerships to investors throughout Canada as well as hard-dollar resource
limited partnerships to investors throughout the world. Pathway Asset Management
also specializes in the manufacturing and distribution of structured products
and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class
mutual fund series). Information about MineralFields Group is available at
www.mineralfields.com. First Canadian Securities(R) (a division of Limited
Market Dealer Inc.) is active in leading resource financings (both flow-through
and hard dollar PIPE financings) on competitive, effective and service-friendly
terms, and offers investment banking, mergers and acquisitions, and mining
industry consulting, services to resource companies. MineralFields and Pathway
have financed several hundred mining and oil and gas exploration companies to
date through First Canadian Securities(R).


About Central Resources

Central Resources Corp. is a junior exploration company created to leverage the
extensive knowledge and experience of a dedicated group of financial and
resource industry professionals. The Company has acquired options on several
highly prospective mineral properties in the Yukon and British Columbia and
continues to pursue additional opportunities to build shareholder value.


This news release contains forward-looking information, which involves known and
unknown risks, uncertainties and other factors that may cause actual events to
differ materially from current expectation. Important factors - including the
availability of funds, the results of financing efforts, the results of
exploration activities -- that could cause actual results to differ materially
from the Company's expectations are disclosed in the Company's documents filed
from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to
place undue reliance on these forward-looking statements, which speak only as of
the date of this press release. The company disclaims any intention or
obligation, except to the extent required by law, to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.

Uranium Standard Resources Ltd. (TSXV:CBC)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024