Confederation Minerals Announces Closing of Non-Brokered Private Placement
VANCOUVER, BC / ACCESSWIRE / April 30, 2015 / Confederation Minerals Ltd. (TSX.V: CFM) is pleased to announce that on April 29, 2015 it has closed its previously announced non-brokered private placement (the “Financing”) raising gross proceeds of $50,000 by the issuance of 1,000,000 units (each a “Unit”) at a price of $0.05 per Unit.
Each Unit consists of one (1) common share and one (1) common share purchase warrant (each a “Warrant”). Each Warrant entitles the holder thereof to purchase one additional common share of the Company at a price of $0.05 per share for a period of twelve (12) months from the closing date of the Financing.
All securities issued in this Financing are subject to a statutory hold period expiring on August 30, 2015.
The proceeds from the Offering will be used for general working capital and corporate purposes.
On behalf of the Board of Directors,
Confederation Minerals Ltd.
Lawrence A.Dick, Ph.D., P.Geo
President, CEO, and Director
Confederation Minerals Ltd. is a British Columbia based company engaged in the business of acquisition, exploration and development of mineral properties. Its objective is to locate and develop economic precious and base metals properties of merit. Confederation Minerals Ltd. owns 70% of the Newman Todd project in the Red Lake Mining District of Northern Ontario, as well as 100% ownership in another property in the Red Lake Mining District of Ontario.
SOURCE: Confederation Minerals Ltd.