NR - Smash Minerals Corp. Announces Private Placem
Smash Minerals Corp. Announces Private Placement of Up to C$10 Million
VANCOUVER, BRITISH COLUMBIA, Jun 27, 2011 --
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Smash Minerals Corp. (the "Company" or "Smash") (TSXVENTURE:SSH) announces that it has engaged NCP Northland CapitalPartners Inc. (the "Agent") to act as lead Agent on behalf of asyndicate in connection with a proposed private placement for grossproceeds of up to C$10,000,000 (the "Offering"). The proceeds will beraised by the issuance of a combination of common shares ("Shares") andflow-through shares ("FT Shares") of Smash at a price of $1.05 perShare and $1.20 per FT Share, subject to a maximum of $6 million in FTShares. The Offering may be increased for up to an additional$1,500,000 in Shares offered on the same terms and conditions, up tothe Closing Date.
The proceeds of this Offering will be used to accelerate theadvancement of the Company's Yukon gold exploration project and forgeneral working capital purposes.
In connection with the Offering, the Company will pay to theAgent a cash commission equal to 7% of the aggregate gross proceedsfrom the Offering and issue to the Agent compensation options,exercisable for a period of eighteen months from the closing date ofthe Offering, to acquire that number of common shares of the Companyequal to 7% of the aggregate number of Shares and FT Shares issuedpursuant to the Offering exercisable at $1.20 per common share.
The closing of the Offering is expected to occur on or aboutJuly 12, 2011 or such earlier or later date as may be agreed upon bySmash and the Agent.
Smash Minerals Corp.
Smash Minerals Corp is a junior exploration company undertakinggold exploration on its Whiskey Gold Property in the Yukon Territory,Canada. Smash holds one of the largest claim blocks in the Yukon, with4,177 claims extending over a distance of 60 km for a total of 846square kilometers and lies due east of claims held by Kinross Gold whosecured its White Gold District holding in 2010 by acquiring UnderworldResources.
Smash's exploration team, led by Adrian Fleming, made thefirst significant gold discovery in the White Gold District in theYukon Territory, Canada with Underworld Resources in 2008. Smash hascommenced its Summer 2011 field program on its 100% owned Whiskey GoldProperty, following completion of its camp and the receipt of a Class 3Land Use Permit.
Smash's 2011 field program is designed to further identifypreliminary gold targets for an initial phase of drilling in August andSeptember. The current program leverages a comprehensive property wideridge sampling program undertaken in 2010. Over 7,000 soil samples werecollected, followed up by a short phase of field checking. This workled to the identification of three primary targets with soilgeochemistry, alteration and mineralization at surface similar to theGolden Saddle discovery made by Underworld Resources in 2008.
ON BEHALF OF THE BOARD
Adrian W. Fleming, CEO and Director
This press release is not an offer or a solicitation of anoffer of securities for sale in the United States. The common shares ofSmash Minerals Corp. have not been and will not be registered under theU.S. Securities Act of 1933, as amended, and may not be offered or soldin the United States absent registration or an applicable exemptionfrom registration.
Smash Minerals Corp. Adrian W. Fleming CEO and Director (604) 638-8063 (604) 648-8105(FAX)
www.smashminerals.com