PP starts trading MondaySeafield Announces Private Placement of Units
Thursday, December 9th, 2010
Click here to download and read the full release (PDF)
Seafield Resources Ltd. (the “Company”) (TSXV: SFF)is pleased to announce that it intends to complete a private placementoffering of up to 16,000,000 units (“Units) at a price of
.50 perUnit, for gross proceeds of up $8,000,000 (the “Offering”). Each Unit will consist of one common share (a “Common Share”) of the Company and one common share purchase warrant (a “Warrant”)with each Warrant entitling the holder thereof to purchase a CommonShare at an exercise price of
.75 for a period of two years followingthe closing of the Offering.
In addition, the Company intends to pay finder’s fees to parties thatrefer subscribers to the Company equal to 6% of the proceeds of theOffering and will also issue broker warrants equal to 6% of the numberof Units issued pursuant to the Offering. Each broker warrant willentitle the holder to acquire a Unit for a period of two years from thedate of issuance exercisable at a price of
.50 per Unit.
Proceeds of the Offering will be used to advance the Company’sQuinchia, gold property in Colombia and for general working capitalpurposes.
The securities issued are subject to a four month hold period fromthe date of issuance. Completion of the private placement is subject tofinal acceptance of the TSX Venture Exchange.
For more information, please contact:
Anthony Roodenburg, CEO, at 416 367-4571
or visit www.sffresources.com