VAL-D'OR, CANADA--(Marketwired - June 27, 2014) - Cartier Resources Inc. (TSX VENTURE:ECR) ("Cartier") is pleased to announce the closing of two private placements without intermediate.
- The first private placement is a non-flow-through private placement with accredited investors, directors, officers and friends and consists of 95 units for an amount of $95,760.
- The second private placement is a flow-through private placement with accredited investors, directors, officers, friends and business associates and consists of 530 units for an amount of $530,000.
Each unit of the non-flow-through private placement, at a price of $1,008 per unit, is comprised of 8,400 common shares at a price of $0.12 per share and 8,400 common share purchase warrants. Each warrant entitles the holder to subscribe for one (1) common share at a price of $0.20 for a period of 24 months following the closing date. Thus, an aggregate of 798,000 common shares and 798,000 warrants were issued, of which 84,000 common shares and 84,000 warrants were issued to one insider of Cartier.
Under the flow-through private placement, each unit, at a price of $1,000 per unit, is comprised of 6,250 flow-through common shares at a price of $0.16 per share. Thus, the following securities were issued by Cartier, 3,312,500 flow-through shares at a price of $0.16 per share for an amount of $530,000, of which 50,000 flow-through shares ($8,000) were issued to one insider of Cartier.
The securities issued under both private placements are subject to a four (4) month and one (1) day statutory hold period.
The proceeds of both placements will be used by Cartier to conduct exploration, mainly on the Benoist project.
This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The securities have not been and will not be 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 registration.
The common shares of Cartier Resources Inc. are listed on the TSX Venture Exchange under the symbol "ECR".
Neither, the TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.