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Clifton Star Resources Announces the Closing of the Brokered Flow-Through Private Placement
Published : November 13, 2012
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QUEBEC CITY, QUEBEC--(Marketwire - Nov. 13, 2012) - Clifton Star Resources Inc. (the "Company" or "Clifton") (News - Market indicators)(FRANKFURT:C3T) is pleased to announce it has closed with Industrial Alliance Securities Inc. (the "Agent") a private placement of flow-through shares (the "Private Placement").

The Company has issued 2,760,000 flow-through shares (each, a "Flow-Through Share"), at a price of $1.25 per Flow-Through Share for gross proceeds of $3,450,000 including the Flow-Through Shares issued pursuant to the Agent's over-allotment option which was exercised in full.

In connection with the Private Placement, the Company paid a cash commission to the Agent in an amount equal to $203,250 and issued 138,000 compensation options entitling it to purchase for a period of 18 months from the date of issuance and at a price of $1.25 per share, a number of additional common shares of the Company equal to 5% of the total number of Flow-Through Shares sold in the Private Placement.

All of the securities issued pursuant to the Private Placement are subject to a hold period of four months and one day ending on March 14, 2013.

The Company intends to use the proceeds from the sale of the Flow-Through Shares to incur exploration expenditures on the Duparquet Project, to upgrade and expand its resources.

Neither the TSX Venture Exchange nor its Regulations Services Provider (as the term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Louis Dufour
Vice President Finance & CFO
418-914-9922
jblackburn@cfo-star.com
Companies Mentionned : Clifton | Clifton Star | Total |
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Clifton Star Resources

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Financings of Clifton Star Resources
11/13/2012Announces the Closing of the Brokered Flow-Through Private P...
10/31/2012Announces Brokered Flow-Through Private Placement
11/19/2010Issues $1,000,000 Flow-Through Shares at $5.50
Option Grants of Clifton Star Resources
2/6/2013Retains Albis Capital Corporation as Consultant for Investor...
1/11/2013Retains Mr. Louis Morin as Consultant for Investor Relations
Project news of Clifton Star Resources
9/18/2013(Duparquet)Confirms Excellent Gold Recoveries in Pilot Plant Testing on...
9/12/2012(Duparquet)Announces an Amended Option Agreement on the Duparquet Proje...
6/21/2011(Duparquet)Drilling to Commence at Duparquet
11/2/2010(Duparquet)Osisko and Clifton Star Intersect 70 Metres Averaging 1.94 g...
Corporate news of Clifton Star Resources
10/3/2013Announces That it has Adopted an Advance Notice By-Law
9/4/2013(Duparquet)Intersects 2.25 g/t Au Over 34 m and 1.51 g/t Au Over 39 m, ...
8/21/2013(Duparquet)Intersects 2.46 g/t Au Over 18.5 m and 2.50 g/t Au Over 17.0...
6/28/2013(Duparquet)Announces a Substantial Increase in the Gold Resource at its...
6/19/2013Drills 5.64 g/t Au Over 34.0 m, Including 8.36 g/t Au Over 1...
5/13/2013(Duparquet)Announces Drilling Results from the Duparquet Project Includ...
4/16/2013Grants Stock Options
3/27/2013(Duparquet)Produces High Grade Gold Concentrates From the Duparquet Pro...
2/14/2013(Duparquet)Announces Final 2012 Drilling Results from the Duparquet Pro...
12/3/2012(Duparquet)Announces New Drill Results From the Duparquet Project Inclu...
12/3/2012(Duparquet)Announces New Drill Results From the Duparquet Project Inclu...
12/3/2012(Duparquet)Announces New Drill Results From the Duparquet Project Inclu...
10/23/2012(Duparquet)Announces Exploration Results at Duparquet, Including 1.29 g...
9/17/2012Grants Stock Options
6/13/2011(Duparquet)Announces Updated NI 43-101 Resource Estimate for the Donche...
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TSX-V (CFO.V)
0.070+7.69%
TSX-V
CA$ 0.070
11/26 15:50 0.010
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