Confederation Minerals Announces Closing of Non-Brokered Private Placement
(via Thenewswire.ca)
Vancouver, B.C., June 26, 2013,
Confederation Minerals Ltd. (TSX.V: CFM; OTCQX: CNRMF) is
pleased to announce that it has closed its previously announced
brokered private placement (the "Financing") raising gross
proceeds of $1,000,000 by the issuance of 10,000,000 units (each a
"Unit") at a price of $0.10 per Unit.
Each Unit consists of one (1) common share
and one (1) common share purchase warrant (each a
"Warrant"). Each Warrant entitles the holder thereof to
purchase one additional common share of the Company at a price of
$0.15 per share for a period of twelve (12) months from the closing
date of the Financing.
All securities issued in this Financing are
subject to a statutory hold period expiring on October 27, 2013. The
Company has agreed to pay a finder's fee of $54,000 cash and 540,000
Warrants in connection with the Financing.
The proceeds from the Offering will be used to fund exploration
programs on the Company's Newman Todd gold prospect in the Red Lake
gold camp and for general working capital and corporate purposes.
About CFM
Confederation Minerals Ltd. is a British Columbia based company
engaged in the business of acquisition, exploration and development of
mineral properties. Its objective is to locate and develop economic
precious and base metals properties of merit. Confederation Minerals
Ltd. holds an Option Agreement to acquire up to 70% of the Newman Todd
project in the Red Lake Mining District of Northern Ontario, as well
as 100% ownership in another property in the Red Lake Mining District
of Ontario.
On Behalf of the Board:
"Brian Bapty"
Brian Bapty, Ph.D.
President and Director
CORPORATE INQUIRIES
Suite 1980, 1075 West Georgia Street
Vancouver, B.C.
Brian Bapty, President and Director
604-652-3950
brian.bapty@confederationmineralsltd.com
www.confederationmineralsltd.com
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.
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