Zephyr Minerals Limited: Closes private placement
![Zephyr Minerals Limited: Closes private placement](https://www.minenportal.de/media/goldseiten-news.jpg)
Net proceeds from the funds raised will be used to advance the Dawson Gold Project in Colorado, USA, and for general working capital purposes. All securities issued in connection with the private placement, including the shares and warrants comprising the units are subject to a statutory four-month hold period that expires on July 1, 2017.
OakRun Precious Metals Fund Ltd. ("OakRun"), subscribed for 575,000 units, resulting in an ownership of 11,000,000 shares or 31.4% of the Company. Mr. Scott Rhodenizer is Investment Manager for OakRun, and a Director of Zephyr.
The Private Placement is subject to acceptance by the TSX Venture Exchange and required regulatory approvals.
About Zephyr Minerals Ltd.
Zephyr Minerals Ltd. is a gold exploration and development company focused on advancing its flagship Dawson Gold Project in Colorado, USA. After completing a positive PEA, Zephyr is continuing to advance the project though permitting, additional exploration as well as further engineering work with a plan to develop a high grade, low cost underground gold mine.
To be included in the Zephyr email database for Company updates please contact info@zephyrminerals.com, or visit our website www.zephyrminerals.com for more information.
CAUTIONARY STATEMENT:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains forward-looking statements. More particularly, this press release contains statements concerning the use of funds from the private placement.
The forward-looking statements contained in this document are based on certain key expectations and assumptions made by the Company, including, with respect to the use of funds from the private placement, expectations and assumptions concerning timing of receipt of required regulatory approvals and third party consents and the satisfaction of other conditions to the completion of the exploration work on the Dawson Gold Property.
The forward-looking statements contained in this document are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Trading Symbol: TSX-V: ZFR OTC:ZPHYF
Shares Outstanding: 35,034,761
SOURCE Zephyr Minerals Ltd.
Contact
please contact: David H. Felderhof, Executive VP & Director Or
Sean Tufford, VP, Corporate Development
Zephyr Minerals Ltd.
T: 902 446-4189
F: 866 941-4715