VANCOUVER, British Columbia, Nov. 06, 2007 - Consolidated Spire Ventures Ltd. (“the Company”) (TSX-V:CZS) is pleased to announce that it has arranged a non-brokered private placement of up to 3,000,000 units at a price of $0.23 per unit for gross proceeds of $690,000. Each unit consists of one common share and one share purchase warrant with each warrant entitling the holder to purchase one additional common share for two years. The exercise price of the warrant is $0.30 in the first year and $0.35 in the second year. The Company has agreed to pay a finder's fee incidental to the financing in accordance with Exchange policies.
The proceeds of this private placement will be used to for exploration programs on the Yago, Mexico Property, developing the four additional Mexico prospective properties and for general working capital.
The terms of the private placement and any applicable finder’s fees are subject to approval by regulatory authorities
Investors are invited to visit the Consolidated Spire Ventures Ltd. AGORACOM hub at www.agoracom.com/ir/Consolidatedspire where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to CZS@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
FOR INFORMATION OR INVESTOR RELATIONS
CONTACT THE COMPANY AT (604) 662-7455
OR SHAWN VAN DAMME AT 1-877-700-1644
WEBSITE www.spireventures.com
ON BEHALF OF THE BOARD
“Brian Buchanan”
President and Director
This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
