Trading Symbol: TSX-V: ZFR
Shares Outstanding: 19,347,295
HALIFAX, Aug. 20, 2013 /CNW/ - Zephyr Minerals Ltd. ("Zephyr" or the
"Company") (TSXV: ZFR), is pleased to announce that it will undertake a
non-brokered private placement to sell up to 1,500,000 units of the
Company at a price of $0.15 per unit for gross proceeds of up to
$225,000.
Each unit consists of one common share and one-half of one common share
purchase warrant. Each whole warrant entitles the holder to acquire one
common share at an exercise price of $0.20 per common share at any time
on or before the 12-month anniversary of the closing of the offering.
In connection with the offering, a finder's fee may be paid consisting
of a cash commission equal to 8% of the gross proceeds raised under the
offering and that number of non-transferable finder's fee warrants as
is equal to 8% of the number of shares. Each finder's fee warrant will
be exercisable into one common share of the Company at $0.20 per share,
for a period of 12 months from the closing date. Net proceeds from the
funds raised will be used to advance the Dawson Gold Project in
Colorado, USA, and for general working capital purposes. All shares and
warrants are subject to a four-month hold period.
Closing of the non-brokered offering is anticipated to occur on or
before September 25, 2013, and is subject to receipt of applicable
regulatory approvals, including approval of the TSX Venture Exchange.
The Company has granted 125,000 incentive stock options to a director,
Mr. David Grand, to purchase common shares of the Company at a price of
$0.16 per share for a period of 5 years. The options will be granted in
accordance with the Company's stock option plan and as set forth by TSX
Venture Exchange policy.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE: ZEPHYR MINERALS LTD.
please contact:
David H. Felderhof, Executive Vice President
Zephyr Minerals Ltd.
T: 902 446-4189
F: 866 941-4715
To be included in the Zephyr email database for Company updates please contact info@zephyrminerals.com, or visit our website www.zephyrminerals.com for more information.
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