Final Closing of $434,288 of an Announced Private Placement of $2,000,000
ROUYN-NORANDA, QUEBEC -- (Marketwire) -- 07/30/10 -- Pershimco Resources Inc. (the 'Corporation' or 'Pershimco') (TSX VENTURE: PRO) (FRANKFURT: BIZ) is pleased to announce the second and last closing of its previously announced private placement of $2,000,000 for subscriptions representing $434,288 Canadian dollars for the issuance of a total of 1,737,152 units at a price of $0.25 per unit. The Corporation had completed on June 22, 2010, the first phase of its financing with subscriptions totaling $1,565,712.
Each unit will consist of 1 class 'A' share of the Corporation (the 'Common Share') and 1 warrant (the 'Warrant'). Each Warrant will entitle the holder thereof to purchase 1 Common Share at an exercise price of $0.40 per Common Share, for a 12 month period from the date of issuance of the Warrant. Each issued Common Share and Warrant will be subject to a 4 month holding period.
'We are proud to finalize this second phase of financing, which will allow us to advance with our projects and provide our shareholders the return they deserve ' said Alain Bureau, President and Chief Executive Officer.
About Pershimco Resources Inc.
Pershimco Resources Inc. is a Canadian-based resource exploration corporation holding strategic properties located in Quebec, Canada and in Latin America.
The Corporation's documents are available on www.sedar.com.
For more information, please visit the Corporation's website at www.pershimco.ca.
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:
Pershimco Resources Inc.
Alain Bureau, P. Eng.
President and Chief Executive Officer
819-797-2180