Spur Ventures Inc SPVEF

News of financing

[Barley1]

No sooner said than done. These guys don't hang around. Spur Ventures arranges $20-million financing Spur Ventures Inc (TSX-V:SVU) Shares Issued 39,889,328 Last Close 7/6/2005 $1.80 Thursday July 07 2005 - News Release An anonymous director reports SPUR VENTURES ANNOUNCES FINANCING Spur Ventures Inc. has arranged a financing with a syndicate of investment dealers led by Raymond James Ltd. and including Dundee Securities Corp. to sell by way of private placement on a best efforts basis 11,428,572 units at $1.75 per unit. Each unit shall consist of one common share and one-half of one common share purchase warrant. Each whole warrant will be exercisable into one share for a period of 24 months from closing at an exercise price of $2.00. The agents will have an option to purchase up to an additional 5,714,286 units at the issue price, exercisable until 48 hours prior to closing. The net proceeds of this offering will be used to finance the fast-tracking of Spur's development projects in China as outlined in news in Stockwatch on July 6, 2005, and for general corporate purposes. The offering is scheduled to close on or about July 28, 2005, and remains subject to certain conditions, including satisfactory due diligence and the receipt of all required regulatory and other approvals, including the approval of the TSX Venture Exchange. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.