Vancouver, British Columbia – July 30, 2008 -Consolidated Spire Ventures Ltd. (TSX-V: CZS) (“the Company” or “Spire”) is pleased to announce that it has arranged a non-brokered private placement of 7 million units, 5 million will be flow-through units at a price of $0.17 cents per unit and 2 million will be non-flow-through units at a price of $0.135 cents per unit, for the gross proceed of $1,120,000.
The flow-through units will comprise of one share and one non-flow through share purchase warrant exercisable to purchase one additional non-flow-through share of the company at a price of $0.25 cents per share for a period of one year from the closing of the private placement.
The non-flow-through units will comprise of one share and a one-half of one non-flow through share purchase warrant; one full warrant is exercisable to purchase one additional non-flow-through share of the company at a price of $0.20 in the first year and at $0.25 in the second year from the closing of the private placement. A finder's fee may be payable in accordance with the policies of the TSX Venture Exchange.
The proceeds of the flow-through portion of the private placement will be used for Canadian exploration expenditures; the non-flow-through financing will be used for exploration program at the Yago property in Mexico and for general working capital.
The terms of the private placements are subject to approval by regulatory authorities.
FOR INFORMATION OR INVESTOR RELATIONS
CONTACT THE COMPANY AT (604) 662-7455
WEBSITE www.spireventures.com
ON BEHALF OF THE BOARD
“Brian Buchanan”
President and Director
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
