NEWSPencari Announces Closing of Private Placement
VANCOUVER, BRITISH COLUMBIA, Jul 10, 2007 (CCNMatthews via COMTEX News Network) --
Pencari Mining Corporation ("Pencari") (TSX VENTURE:PMC) is pleased to announce that it has closed the $1,100,000 private placement announced on June 22, 2007. This private placement consisted of the sale of 2,000,000 units at a price of $0.55 per unit, each unit consisting of one common share and one half of a non-transferable share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share of Pencari at a price of $0.75 until January 9, 2009. All of the securities issued in connection with the closing of this private placement are subject to a hold period in Canada until November 10, 2007.
Pencari would also like to announce that it has granted incentive stock options to certain directors, officers and consultants, entitling them to purchase up to a total of 200,000 shares at a price of $0.60 per share for a period of 5 years.
Pencari Mining Corporation is an exploration and development company publicly traded on the TSX Venture Exchange.
PENCARI MINING CORPORATION
Adrian Rollke, President, CEO & Director
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
SOURCE: Pencari Mining Corporation
Pencari Mining Corporation Adrian Rollke President, CEO & Director (604) 683-2808 (604) 683-2286 (FAX) Email: info@pencarimining.com
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