- Linear Metals Corporation
(LRM.TSX) is pleased to announce that it has arranged a
non-brokered private placement of up to 3,333,333 common shares priced at
$0.30 per share, for total gross proceeds of up to $1,000,000.
Net proceeds of the Offering will be
used for exploration of the Company�s mineral properties, strategic
property acquisitions and working capital.
The private placement is scheduled to
close by February 25, 2011 and is subject to certain conditions including,
but not limited to, the receipt of all necessary approvals including the
approval and acceptance by the Toronto Stock Exchange. All securities to
be issued pursuant to the private placement will be subject to a four month
hold period and no commissions will be paid in connection with the
For further information contact:
Linear Metals Corporation
Chief Executive Officer
The TSX Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of this release.
This release includes certain
statements that may be deemed "forward-looking statements". All
statements in this release, other than statements of historical facts, that
address future exploration drilling, exploitation activities and events or
developments that the Company expects, are forward-looking statements.
Although the Company believes that the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results or
developments may differ materially from those in the forward-looking
statements. Factors that could cause actual results to differ materially
from those in the forward-looking statements include exploitation and
exploration successes, continued availability of financing, and general
economic, market or business conditions.
For more information on the
Company and the risk factors inherent in its business, investors should
review the Company's Annual Information Form atwww.sedar.com.