|International Northair Mines Completes Non-Brokered Private Placement
International Northair Mines Ltd. (“Northair or the “Company) (TSXV: INM) is pleased to announce the completion of a non brokered private placement of 6,060,000 units at a price of $0.25 per unit for total proceeds of C$1,515,000. Each unit consisted of one common share and one-half a non-transferable share purchase warrant, with each whole warrant exercisable to purchase one common share for $0.40 in the first year and $0.50 in the second year.
Northair also issued 408,100 units as a finders’ fee in respect of purchasers of securities introduced to the Company. In addition to the fee, the Company issued finder warrants, exercisable into 408,100 common shares of the Company, to finders. Each finder’s warrant has an exercise price of $0.40 in the first year and $0.50 in year two.
ON BEHALF OF THE BOARD,
INTERNATIONAL NORTHAIR MINES LTD.
“Fred G. Hewett”
Fred G. Hewett, P.Eng.
President & CEO
FOR MORE INFORMATION CONTACT THE COMPANY AT 1-604-687-7545 or Toll Free at 1-888-338-2200
Website: www.internationalnorthair.com Email: [email protected]
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press 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 the Company’s Sedar filings for a more detailed discussion of factors that may impact expected results.