Cartier Resources Inc. (TSX
VENTURE:ECR) ("Cartier") announces the closing of the private
placement announced on December 6, 2011 conducted through Industrial Alliance
Securities Inc. and National Bank Financial Inc. as agents for aggregate
gross proceeds of $3,080,840.
In the aggregate, the following securities were issued by Cartier:
a. 4,616,000 flow-through common shares at a price of $0.44 per share; b. 2,999,429 common shares at a price of $0.35 per share; c. 1,500,000 common share purchase warrants, each warrant entitling its holder to subscribe for one common share at a price of $0.46 for a period of 12 months; and d. 1,499,429 common share purchase warrants, each warrant entitling its holder to subscribe for one common share at a price of $0.46 for a period of 18 months.
The
proceeds of the offering will be used by Cartier to conduct exploration
programs in 2012 and for general working capital.
The agents received a cash commission aggregating $229,588. In addition, the
agents received 378,772 non transferable broker
warrants exercisable at a price of $0.35 per share for a period of 12 months
following the closing of the offering and entitling them to acquire 378,772
common shares. All securities issued pursuant to the offering will be subject
to a four month hold period.
This press release is not an offer or a solicitation of an offer of
securities for sale in the United States. The securities have not been and
will not be registered under the U.S. Securities Act of 1933, as amended, and
may not be offered or sold in the United States absent registration or an applicable
exemption from registration.
The common shares of Cartier Resources Inc. are listed on the TSX Venture
Exchange under the symbol "ECR".
Neither the TSX Venture Exchange or 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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