Birch Hill Gold Corp. FNTRF

FDN arranges $500,000 financing

[statsman1]

Foundation Resources arranges $500,000 financing

2011-10-07 08:09 PT - News Release

Mr. Ike Osmani reports

FOUNDATION RESOURCES ANNOUNCES $500,000 PRIVATE PLACEMENT

Foundation Resources Inc. has arranged a non-brokered private placement of five million units at a price of 10 cents per unit for total proceeds of $500,000. Each unit comprises one common share and one-half of one share purchase warrant. Each share purchase warrant entitles the holder to acquire one additional common share for a period of 12 months at a price of 15 cents.

A finder's fee, in accordance with the policies of the TSX Venture Exchange, will be payable in cash and warrants from the proceeds of the proposed offering. All securities issued pursuant to this financing are subject to a four-month hold period from the date of closing. The offering is subject to TSX-V approval and any regulatory approvals.

Proceeds of the offering will be used for general working capital purposes.

We seek Safe Harbor.
https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aFDN-1888185&symbol=FDN&region=C