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CALGARY, ALBERTA--(Marketwired - April 30, 2014) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Manson Creek Resources Ltd. ("Manson Creek") (TSX VENTURE:MCK) is pleased to announce that it has closed its non-brokered private placement of 6,925,000 Common Units at a price of $0.08 per Common Unit and 1,050,000 Flow-Through Units at a price of $0.10 per Flow Through Unit for gross proceeds of $659,000.
The funds will be used to finance Manson Creek's share of exploration expenditures on the Tell property in the 2014 field program, as well as for general and administrative expenses. The 2014 work will include the first pass drill testing of the Tell target, a large, untested geophysical coincident zone of electrical conductivity with associated chargeability that underlies a series of metal bearing gossans over an area in excess of 600 meters of strike length. Under a Letter of Intent dated March 19, 2014, Guatavita Gold Corporation may contribute up to 65% of the 2014 Tell project expenditures of up to $1 million to earn up to a 50% interest in the property.
Each Common Unit consists of one common share and one common share purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase one additional common share at a price of $0.12 per share until April 30, 2016. Each Flow Through Unit consists of one common share and one half of a common share purchase warrant with each whole common share purchase warrant entitling the holder to purchase one additional common share at a price of $0.12 per share until April 30, 2016.
The securities issued are subject to a hold period until August 31, 2014. Finder's fees totalling $9,600 (5% of eligible gross proceeds) were paid to eligible agents pursuant to the offering.
On Behalf of the Board of Directors,
Jean-Pierre Jutras, President/Director
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.
Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Manson Creek's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Manson Creek. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Manson Creek's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Manson Creek's filings with the Canadian securities authorities. Accordingly, holders of Manson Creek shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Manson Creek disclaims any responsibility to update these forward-looking statements. |