2008 Press Releases
2007 Press Releases
2006 Press Releases
2005 Press Releases
2004 Press Releases
TSX.V : VMI
|
|  |  |
| | Fri Jun 5, 2009
Vault Minerals Raises $420,000
|
| | June 5, 2009, Kirkland Lake, Ontario - VAULT MINERALS INC. (TSX-V: VMI) ("Vault" or the "Company") announces that, further to its press release dated May 13, 2009, it has raised gross proceeds of $420,000 by way of a non-brokered private placement. The financing consisted of the sale of 2,000,000 flow-through units ("Flow-Through Units") to the MineralFields Group at a price of $0.12 per Flow-Through Unit and 1,500,000 units ("Units") at a price of $0.12 per Unit. Insiders of the Company subscribed to greater than 90% of the Units.
Each Flow-Through Unit consists of one common flow-through share and one-half common share purchase warrant, and each such whole warrant is exercisable to acquire one common share at a price of $0.25 until May 29, 2010. Each Unit consists of one common share and one common share purchase warrant that is exercisable to acquire one common share of the Company at a price of $0.20 until June 4, 2011.
The securities issued pursuant to this financing bear a legend restricting their resale until September 30, 2009 in the case of the Flow-Through Units and October 5, 2009 in the case of the Units.
Commissions of $14,400 cash and compensation warrants to acquire 160,000 common shares for 1 year at $0.25 per common share were issued in connection with the Flow-Through financing.
The proceeds of the financing will be used for general working capital and to fund the exploration of the Company's gold properties situated in the Kirkland Lake gold camp.
About Vault
Vault Minerals Inc. is a Canadian junior gold exploration company active in the world-renowned Kirkland Lake gold camp of northern Ontario. The Company's capital now consists of 33,216,093 issued and outstanding common shares which are listed for trading on the TSX Venture Exchange under the symbol 'VMI'. For further information, please contact Joe Horne, President at 902 402 8266 or visit www.vaultminerals.com
About MineralFields, Pathway and First Canadian Securities ®
MineralFields Group (a division of Pathway Asset Management), based in Toronto and Vancouver, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities ® is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ®.
On behalf of the Board of
VAULT MINERALS INC.
signed "Joseph D. Horne"
Joseph D. Horne, President & CEO
This Press Release may contain forward-looking statements that involve inherent risks and uncertainties. Actual events or results could differ materially from the Company's forward-looking statements and expectations, and the Company disclaims any obligation to update these forward-looking statements.
"Neither TSX Venture Exchange nor 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." |
| |
| | You can view the Next Press Releases item: Thu Jun 25, 2009, Vault Minerals Announces AGM Results and the Grant of Stock Options
You can view the Previous Press Releases item: Wed May 13, 2009, Vault Minerals to Raise $600,000
You can return to the main Press Releases page, or press the Back button on your browser.
|
|
