VAL-D'OR, QUEBEC--(Marketwire - Dec. 20, 2012) - Cartier Resources Inc. (News - Market indicators) ("Cartier") is pleased to announce the closing of a private placement of 3,000,000 units conducted with various Québec Institutional Funds without intermediate agent for a total amount of $600,000.
Each unit, at a price of $0.20 per unit, is comprised of one (1) common share and one half common share purchase warrant. Each warrant entitling the holder to subscribe for one (1) common share at a price of $0.30 for a period of 18 months following the closing date.
Thus, an aggregate of 3,000,000 shares and 1,500,000 share purchase warrants were issued. The securities issued under the private placement are subject to a four (4) month and one (1) day statutory hold period.
The proceeds of the offering will be used by Cartier to conduct exploration, mainly on the Benoist project which returned excellent results from the most recent drilling program.
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".