Cartier Iron Corporation (CSE: CFE) (“Cartier Iron”), is pleased to announce that it is proceeding with a non-brokered private placement (the “Private Placement”) of up to 2,500,000 flow-through shares of Cartier Iron at a price of $0.14 per share (“F-T Shares”) for proceeds of up to $350,000. Each F-T Share will be issued on a “flow-through” basis under the Income Tax Act (Canada). Insiders of Cartier Iron may participate in the Private Placement.
The net proceeds of the Private Placement will be used to finance exploration at the Big Easy Property in Newfoundland and Labrador and all securities issued pursuant to the Private Placement will be subject to the applicable statutory four-month hold period.
About Cartier Iron Corporation
Cartier Iron is an exploration and development Company focused on discovering and developing significant iron ore resources in Quebec, and a gold property in the province of Newfoundland and Labrador. The Company’s iron ore projects include the Gagnon Holdings in the southern Labrador Trough region of east-central Quebec. The Big Easy gold property is located in the Burin Peninsula epithermal gold belt in the Avalon Zone of eastern Newfoundland.
Please visit Cartier Iron’s website at www.cartieriron.com.
For further information please contact:
| Thomas G. Larsen Chief Executive Officer (416) 360-8006 | Jorge Estepa Vice-President (416) 360-8006 |
The CSE has not reviewed nor accepts responsibility for the adequacy or accuracy of this release. Statements in this release that are not historical facts are “forward-looking statements” and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these “forward-looking statements”.
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