Release date- 28062016 - Clear Mountain Resources Corp. (TSX-V: CY) is pleased to announce that it has closed its private placement of 9,505,000 units at $0.075 per unit for total gross proceeds of $712,875.
Each unit consists of one common share and one transferable share purchase warrant, each warrant exercisable into one additional common share at a price of $0.20 per share until June 27, 2019. The Company issued a total of 130,200 units to finders for their efforts in finding certain placees. Each finder's unit consists of one common share and one non-transferable share purchase warrant, with each warrant exercisable into one additional common share at a price of $0.20 per share until June 27, 2019. All securities issued under the placement are subject to statutory hold periods expiring October 28, 2016. Proceeds of the placement will be used for the search and investigation of new opportunities for the Company and for general working capital.
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