Cartier Silver Corporation (CSE:CFE) (“Cartier Silver” or the “Company”) is pleased to announce that it is proceeding with a non-brokered private placement (the “Private Placement”) for proceeds of up to $2 million.
Private Placement
The Private Placement will consist of up to 8,000,000 units of Cartier Silver at a price of $0.25 per unit (“Units”) for gross proceeds of up to $2 million. Each Unit will consist of one common share in the capital of Cartier Silver (a “Common Share”) and one half of one Common Share purchase warrant (each whole, a “Warrant”). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.50 per share for a term of 24 months following the closing of the Private Placement.
The net proceeds of the Private Placement will be used to finance exploration at the Chorrillos Project in the Potosi Department, Bolivia and for working capital purposes. The Private Placement is subject to all required regulatory approval. All securities issued pursuant to the Private Placement will be subject to the applicable statutory four-month hold period.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Cartier Silver Corporation
Cartier Silver is an exploration and development Company focused on discovering and developing its recently acquired silver property assets, including the Chorrillos Project and claims staked by the Company’s subsidiary, all of which are located in the Potosi Department of southern Bolivia. The Company also holds significant iron ore resources at its Gagnon Holdings in the southern Labrador Trough region of east-central Quebec, and the Big Easy gold property in the Burin Peninsula epithermal gold belt in the Avalon Zone of eastern Newfoundland & Labrador.
For further information please visit Cartier Silver’s website at www.cartiersilvercorp.com
For further information please contact:
| Thomas G. Larsen | Jorge Estepa | |
| Chief Executive Officer | Vice-President | |
| (800) 360-8006 | (800) 360-8006 | |
| (416) 360-8006 | (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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