Seafield Resources Ltd

Mazatlan, Mexico - Dryden, n/w Ontario - Fire project, ROF McFauld’s Lake On

Free
Message: Announces Completion of Private Placement Plans Additional Financing
Reply New Message
Prev Message Back To Forum Threaded View Next Message

Announces Completion of Private Placement Plans Additional Financing

posted on May 15, 2009 08:41AM
May 15, 2009
Seafield Announces Completion of Private Placement Plans Additional Financing
TORONTO, ONTARIO--(Marketwire - May 15, 2009) - Seafield Resources Ltd. (the "Company")(TSX VENTURE:SFF) is pleased to announce the completion of a private placement with Vistior Capital Limited ("Vistior") of 6,771,429 common shares at a price of $0.035 per common share for gross proceeds of $237,000. The securities issued are subject to a four month hold period.

Seafield also plans an additional non-brokered private placement of up to 12,500,000 units at $0.04 for gross proceeds of $500,000. Each unit will consist of one common share and one full warrant exercisable for one common share at $0.10 for a period of two years. The warrants will also be subject to a forced conversion such that, if Seafield shares close at a price higher than $0.20 per share for 20 consecutive days, the warrant holders will have 30 days to exercise. All securities issued pursuant to the private placement will be subject to a four-month hold period from the closing date. Finders' fees may be payable on the non-insider portions of the private placement. The private placement is subject to approval from the TSX Venture Exchange.
Reply New Message
Prev Message Back To Forum Threaded View Next Message
Share
Share
New Message
Please login to post a reply