DGAP-News: EXCALIBUR RESOURCES COMPLETES $1.168 MILLION PRIVATE PLACEMENT
(firmenpresse) - DGAP-News: Excalibur Resources Ltd. / Key word(s): Capital Increase
EXCALIBUR RESOURCES COMPLETES $1.168 MILLION PRIVATE PLACEMENT
24.05.2012 / 18:30
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Excalibur Resources Ltd.
Toronto CNSX: XBR
Frankfurt: X9CN
May 23, 2012
EXCALIBUR RESOURCES COMPLETES $1.168 MILLION PRIVATE PLACEMENT
Excalibur Resources Ltd. ('Excalibur' or the 'Company') announces, further
to its news release of April 16, 2012, that it has completed a non-brokered
private placement of 8,060,535 Units at $0.145 per Unit for a total of
$1,168,777. Each Unit consists of one common share and one-half share
purchase warrant. Each whole warrant is exercisable to acquire an
additional common share at $0.20 per share for a one year period.
Net proceeds will be applied to working capital and to the Company's
Catanava gold production project in Mexico. 'After the current financing,
the Company will have about $1.2 million in cash. Since signing the deal
September 2010, we have invested an average $100,000 per month into the
Catanava Project. We are very pleased to have an oversubscribed financing,
particularly in a weak market, which is a real testament of support for the
project from our new shareholders,' commented, Tim Gallagher, Chairman.
Excalibur Resources Ltd. is a junior exploration mining company focused on
the discovery, development and mining of economically viable precious and
base metal mineral resources.
On behalf of the Board of Directors:
'Tim Gallagher'
Chairman
For more information please contact:
Tel: 416-987-0298
Email: info(at)excaliburresources.ca
Website: www.excaliburresources.ca
The CNSX has neither approved nor disapproved of the contents of this press
release.
End of Corporate News
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