Cuervo Resources Closes $500,000 Cdn Private Placement of Common Shares
21.12.2012 | FSCwire
Toronto, December 21, 2012 - Cuervo Resources Inc. (FE - CNSX, CRR - FWB "Cuervo" or the "Company") is pleased to report that the private placement of 3,000,000 common shares of the Company at an issue price of $0.125 CDN per share for aggregate proceeds of $375,000 CDN has closed. This closing is part of a private placement of 4,000,000 common shares for aggregate proceeds of $500,000 CDN. Due to a delay in the international wire transfer of funds for the final subscription, the remaining issuance of 1,000,000 common shares for aggregate proceeds of $125,000 is expected to close no later than December 27, 2012.The private placement of 3,000,000 common shares closed on December 20, 2012 and the shares issued are subject to a four-month hold period from the date of issue.
Cuervo common shares are listed on the Canadian National Stock Exchange (CNSX) and also trade on the Frankfurt Stock Exchange (FWB). Following the closing of the first tranche of the private placement, there are 40,684,750 common shares outstanding (62,409,750 shares on a fully diluted basis).
For further information, please contact Mr. Brian Berner, CEO and a Director of the Company, at 416-203-3957 ext 201 or Mr. Tom Berner, Investor Relations, at 416-203-3957 ext 202. Additional information about Cuervo can be found at the Company's website at www.cuervoresources.com.
The Canadian National Stock Exchange (CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
Cuervo Resources Inc.
247 Major Street,
Toronto, ON, M5S 2L5 Canada
Tel. 416-203-3957
Fax 416-203-4197
www.cuervoresources.com