Silverfields esta bueno ! Silver Fields arranges $500,000 private placement
2012-09-26 06:49 PT - News Release
Mr. Chris England reports
SILVER FIELDS ANNOUNCES PRIVATE PLACEMENT
Silver Fields Resources Inc. will be offering a non-brokered private placement of 10 million units to raise proceeds of $500,000. The private placement will consist of 5,000,000 non-flow through units priced at $0.05 per unit and 5,000,0000 flow-through units priced at $0.05 per unit, as more particularly described below.
NON-FLOW THROUGH UNITS
Each non-flow through unit consists of one non-flow through common share in the capital of the Company and one share purchase warrant entitling the holder to acquire one non-flow through common share of the Company, exercisable for a period of 60 months following the closing date of the private placement, at an exercise price of $0.10.
FLOW THROUGH UNITS
Each flow-through unit consists of one flow through common share in the capital of the Company and one share purchase warrant entitling the holder to acquire one non-flow through common share of the Company, exercisable for a period of 60 months following the closing date of the private placement. The exercise price of each of the share purchase warrants will be $0.10 during the term of the warrants.
The Company shall rely on the "Accredited Investor Exemption" (B.C., Alberta, Ontario) and the "Friends and Relatives Exemption" (B.C.), and therefore will not be preparing an offering document.
The gross proceeds of the offering will be used in part for general working capital and the flow through portion of the private placement will be used for qualified Canadian Exploration Expenditures, including the planned drill program on the Company's Keremeos Silver Project.
The Company will pay a finder's fee in connection with the private placement of 10% cash, plus 10% Agent's Warrants where permitted by the TSX Venture Exchange. The exercise price of each of the Agent's Warrants will be $0.10 during the term of the Warrants.
The Private Placement is subject to the approval of the TSX Venture Exchange.
We seek Safe Harbor.