Santa Fe Metals Corporation Announces up to $1 Million Private Placement Financing
27 Janeiro 2014 - 8:40PM
Marketwired
Santa Fe Metals Corporation Announces up to $1 Million Private
Placement Financing
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 27, 2014) -
Santa Fe Metals Corporation (TSX-VENTURE:SFM) ("Santa Fe" or the
"Company") announces a private placement financing of up to 10M
Flow-through ("FT") and 10M Non-Flow-through ("NFT") units each at
a price of CDN$0.05 per unit (the "Unit") for gross proceeds of up
to CDN$1,000,000. Each FT Unit will consist of one flow-through
common share and one half (1/2) common share purchase warrant. Each
NFT Unit will consist of one common share and one common share
purchase warrant. Each full common share purchase warrant will be
exercisable at a price of CDN$0.10 per common share for a period of
two years from the date of closing of the private placement.
The Company intends to use the proceeds from the flow-through
common shares to incur Canadian exploration expenses as defined in
the Income Tax Act (Canada) to advance drilling and other
exploration activities on the Company's Sully project and to use
the remaining net proceeds of the private placement for general
working capital purposes. Finders' fees consisting of cash and
warrants may be payable on a portion of the private placement
financing. Insiders of the Company will participate in the private
placement financing.
The securities issued under the private placement will be
subject to a four-month hold period from the date of closing. The
closing of the private placement is subject to, among other things,
acceptance from the TSX Venture Exchange.
The TSX Venture Exchange has in no way passed upon the
merits of the proposed transactions and has neither approved nor
disapproved the contents of this news release.
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 news release.
Santa Fe Metals CorporationScott E. Broughton, P.Eng.President
and CEO604.684.2900www.santafemetals.com
Santa Fe Metals Corporation (TSXV:SFM)
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