May 30, 2011 Northair Announces Exercise of Warrants for Proceeds of Over $2.2 Million
International Northair Mines Ltd. (TSXV: INM) (the "Company" or "Northair") is pleased to announce that all current warrants with the expiry dates in May, 2011, have been exercised; resulting in the issuance of 11,442,350 common shares for total proceeds of $2,288,470. The Company's treasury now stands in excess of $6.0 million.
The Company intends to use the proceeds from the warrants to advance its La Cigarra silver project in the state of Chihuahua Mexico, finance other exploration projects and for general working capital.
Northair is currently engaged in an aggressive drill program at La Cigarra. Results from the program will be released by the Company as assays are received and interpreted.
ON BEHALF OF THE BOARD,
INTERNATIONAL NORTHAIR MINES LTD.
"Fred G. Hewett"
Fred G. Hewett, P.Eng.
President & CEO
For further information please contact Fred Hewett, President or Chris Curran, Investor Relations
at 604-687-7545 or 1-888-338-2200
Website: www.northair.com/international/ Email: [email protected] ___________________________________________________________________________
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 news release.
This news release may contain forward looking statements which are not historical facts, such as ore reserve estimates, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involves a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, metal price volatility, volatility of metals production, project development, ore reserve estimates, future anticipated reserves and cost engineering estimate risks, geological factors and exploration results. See Northair's filings for a more detailed discussion of factors that may impact expected results.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
You can view the Next News Releases item: Thu Jun 16, 2011, Northair Intersects 21.85 Metres of 185.8 g/t Silver at La Cigarra Project, Mexico
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