Matamec Closes a Private Placement With Sodemex II
MONTREAL, QUEBEC -- (Marketwire) -- 07/08/10 -- Matamec Explorations Inc. ('Matamec' or the 'Company')(TSX VENTURE: MAT) is proud to announce the completion of a private placement with Sodemex II, s.e.c. on June 29th, 2010. Pursuant to which a total of 468,750 common shares of the Company were issued at a price of $0.16 per share for a gross proceeds of $75,000. The funds will be allocated to the Company's working capital.
One half of one (1/2) common share purchase warrant is attached to each common share issued. Each whole warrant entitles the holder thereof the right to subscribe for one (1) common share at a price of $0.25 for a period of 24 months following the closing. Under applicable securities legislation and the policies of the TSX Venture Exchange, the securities issued under the offering are subject to a 4 month hold period expiring on October 30th, 2010.
About Matamec
Matamec explores for significant gold deposits in the Timmins mining camp in Ontario of which the Matheson JV property with Goldcorp Canada Ltd. and Goldcorp Inc. is the main target. In Quebec, the Company explores for precious and base metals on its Sakami, Valmont and Vulcain properties. As well, Matamec is exploring for gold together with Northern Superior Resources Inc. on its Lesperance/Wachigabau property.
Also in Temiscamingue (Quebec), the Zeus property is explored for heavy REE, yttrium and zirconium, particularly on the Kipawa deposit. The Tansim property is explored for rare metals such as lithium, tantalum and niobium.
'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.'
Contacts:
Matamec Explorations Inc.
Andre Gauthier
President
514-844-5252
info@matamec.com
www.matamec.com