Fairmont Resources Inc: Announces Non-Brokered Private Placement
11.05.2015 | Marketwire
VANCOUVER, May 11, 2015 - Fairmont Resources Inc. (TSX VENTURE:FMR) ("Fairmont") is pleased to announce a private placement (the "Private Placement") of 3.334 million units (the "Units") at a price of $0.15 per Unit. Each Unit will consist of one common share (a "Share") and one Share purchase warrant (a "Warrant"), with each Warrant will entitle the holder to purchase one additional Share at a prices of $0.25 per Share at any time on or 12 months from the date of issuance of the Warrant, and thereafter at a price of $0.35 per Share at any time that is 24 months from the date of issuance of the Warrant.A finder's fee will be payable on the private placement, subject to the policies of the TSX Venture Exchange.
Proceeds of the private placement financing will be used for exploration and development work on Fairmont's mineral properties, acquisitions and general working capital purposes.
Closing of the private placement is subject to the approval of the TSX Venture Exchange.
About Fairmont
Fairmont's Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium. Where these occurrences have been tested they have display exceptional uniformity with respect to grade. These occurrences are of considerable interest due to their proximity to tide water, with the Grand Anse Sea Terminal at the Port of Saguenay located within 100km of all of Fairmont's Quebec properties. Fairmont also has high purity quartz and quartzite properties along Quebec's North Shore from Lac-Saint-Jean to Baie-Comeau. Fairmont's goal is to become one of the dominant publically traded industrial minerals companies in Canada.
Forward-Looking Statements: nformation set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fairmont cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Fairmont's control. Such factors include, among other things: risks and uncertainties relating to Fairmont's exploration program of its mineral properties, Fairmont's ability to complete the private placement financing and Fairmont's limited operating history. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.
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.
Contact
Fairmont Resources Inc.
Michael A. Dehn, President and CEO
647-477-2382
michael@avantimac.com