First Pursuit Closes First Tranche of Private Placement
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Vancouver, British Columbia - Silver Pursuit Resources Ltd. (TSX-V: SPF) (the "Company") is pleased to announce that further to its news release of September 17, 2012, it has closed the first tranche of its non-brokered private placement of up to 10,000,000 units ("Units") at a price of $0.10 per Unit, each Unit comprising of common share of the Company ("Share") and one transferable common share purchase warrant ("Warrant") exercisable for one additional Share for a term of 2 years at a price of $0.20 per Share (the "Financing").
The first tranche of the Financing consists of 1,300,000 Units. An aggregate of 1,300,000 Shares and 1,300,000 Warrants were issued in connection with the closing of the first tranche. The Company announces January 29, 2013 as the hold period expiry date in respect of the Shares comprising the Units and the Shares issued upon exercise of the Warrants.
Finder's fees paid in connection with the first tranche include: an aggregate of $10,400 in cash and 104,000 in finder's warrants payable to a registered dealer, where each finder's warrant will entitle its holder to subscribe for one Share at $0.20 per Share for two (2) years from the date of issuance.
Proceeds from the Financing will be used to fund the Company's La Quintera property in Sonora, Mexico, working capital and for its general expenses.
ON BEHALF OF SILVER PURSUIT RESOURCES LTD.
"Adrian Robertson"
Adrian Robertson
President and Director
NEITHER THE 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
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