SciQuest SQI

News!

[goingtothemoon]

Good news.
Although we all still want some ****ing results, I believe we will rise a few cents tomorrow. IMO.
GLTA

SILVER QUEST ANNOUNCES $2.625 MILLION PRIVATE PLACEMENT
12/9/2010 6:08:02 PM - NFD
VANCOUVER, BRITISH COLUMBIA, Dec 9, 2010 (Marketwire via COMTEX News Network) --
NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Silver Quest Resources Ltd. (TSX VENTURE:SQI) (the "Company") is pleased to announce that it has arranged a non-brokered private placement of up to 3,500,000 flow-through common shares (the "Shares"), at a price of
.75 per Share, to raise total gross proceeds of up to $2,625,000 (the "Offering").
The Company will pay certain persons who locate subscribers for the Offering (the "Finders"), a cash finders' fee of 6% of the gross proceeds of the Offering attributable to that Finder and compensation warrants (the "Compensation Warrants") entitling the Finders to purchase such number of common shares as is equal to 6% of the number of Shares attributable to the Finders for a period of 12 months from closing at an exercise price of
.75 per share.
The funds raised from the issuance of the Shares shall be used for general exploration expenditures, which will constitute qualified Canadian exploration expenditures, as defined in the Income Tax Act (Canada) and flow-through mining expenditures on the Company's prospects.
The Offering will not be qualified for sale to the public by way of prospectus, therefore all securities issued in connection with the Offering will be subject to a four-month hold period from the closing of the Offering. The Offering and the Finder Fees are subject to completion and execution of appropriate documentation and acceptance for filing by the TSX Venture Exchange of the Offering.
SILVER QUEST RESOURCES LTD.
Randy Turner, President
SOURCE: Silver Quest Resources Ltd.
Silver Quest Resources Ltd. Investor Relations 604-687-3959 604-687-1448(FAX) [e-mail]
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