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Re: Corporate News - Monday, October 05, 2009
Private Placement Closed
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Not for distribution to news wire services in the United States.
Vancouver, BC, October 5, 2009 - Logan Resources Ltd. (TSXV:LGR) (the "Company") today announced that it has closed the second and final tranche of a non-brokered private placement and has issued 600,000 units at a price of $0.05 per Unit for gross proceeds of $30,000. Each unit is comprised of one common share and one-half of one share purchase warrant (a "Warrant"). Each whole Warrant is exercisable at a price of $0.10 per share for a period of two years. The common shares and the shares to be issued upon exercise of the Warrants are subject to a hold period until February 1, 2010.
The proceeds from the Offering will be used for general working capital.
Logan Resources Ltd. is a mineral exploration company that specializes in acquiring, exploring and advancing Canadian mineral properties. The Company has a diversified portfolio of precious metal, base metal and uranium projects. For more information on the property portfolio and the Company, please visit www.loganresources.ca, www.sedar.com and www.sec.gov websites.
ON BEHALF OF THE BOARD
"Seamus Young"
Seamus Young
President and CEO
For Further Information Please Contact:
Seamus Young, President & CEO
syoung@loganresources.ca
T: 604-689-0299 x 223
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.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from registration is available.
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Copyright (c) 2009 LOGAN RESOURCES LTD. (LGR) All rights reserved.
For more information visit our website at http://www.loganresources.ca/
or send mailto:info@loganresources.ca
Message sent on Mon Oct 5, 2009 at 06:00:00 AM Pacific Time
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Logan Resources Ltd
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CODE : LGR.V |
ISIN : CA5410953031 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Logan Resources is a silver and gold exploration company based in Canada. Logan Resources holds various exploration projects in Canada. Its main exploration properties are CHEYENNE, CASSIAR PLATEAU and HEIDI in Canada. Logan Resources is listed in Canada and in United States of America. Its market capitalisation is CA$ 2.6 millions as of today (US$ 2.0 millions, € 1.6 millions). Its stock quote reached its highest recent level on September 22, 2000 at CA$ 9.60, and its lowest recent point on February 19, 2016 at CA$ 0.03. Logan Resources has 42 740 000 shares outstanding. |