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Re: News Release - Thursday, February 26, 2009
First Point Minerals Arranges $250,000 Private Placement
Financing
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Peter M. D. Bradshaw, P. Eng., President and Chief Executive Officer of
First Point Minerals Corp. (TSXV:FPX) is pleased to announce that,
subject to regulatory acceptance, First Point has arranged a
non-brokered private placement financing to two arm's-length investors
consisting of 2,500,000 units ("Units") at a price of $0.10 per Unit,
for gross proceeds to the Company's treasury of $250,000. No
commissions or finder's fees are payable in connection with this
financing. Each Unit is comprised of one common share (a "Share") and
one-half of one non-transferable share purchase warrant ("Warrant") of
the Company. Each whole Warrant will entitle its holder to purchase
one additional common share (a "Warrant Share") at an exercise price of
$0.15 per share for a period of 24 months from closing of the
transaction.
In accordance with securities regulations currently in effect, the
Shares, Warrants and Warrant Shares will be subject to a "hold" period
of four months and one day from closing.
The funds will be used, in part, to fund First Point's nickel alloy
exploration program and related hydrometallurgical testing program at
the University of British Columbia and for working capital. The
proceeds from the exercise of the Warrants, if any, will be provide
general working capital.
For more information, please view: www.firstpointminerals.com, or phone
Peter M.D. Bradshaw, President and CEO, or Ron Britten, Vice-President
of Exploration, at (604) 681-8600.
FIRST POINT MINERALS CORP.
"Peter M.D. Bradshaw"
Peter M.D. Bradshaw, President
The TSX Venture Exchange has not reviewed, nor accepts responsibility
for the adequacy or accuracy of this news release.
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Copyright (c) 2009 FIRST POINT MINERALS CORP. (FPX) All rights
reserved. For more information visit our website at
http://www.firstpointminerals.com/ or send
mailto:info@firstpointminerals.com
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First Point Minerals Corp
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EXPLORATION STAGE |
CODE : FPX.T |
ISIN : CA3359371083 |
CUSIP : 335937108 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
First Point Min. is a gold and silver exploration company based in Canada. First Point Min. holds various exploration projects in Honduras. Its main exploration properties are CORRALITOS in Mexico, DECAR and JOE in Canada and TULE and CAMPORO in Honduras. |