Did you know?
You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)
Announces Private Placement and Removal of Officer
May 26, 2009 02:10PM
May 26, 2009
First Source Announces Private Placement and Removal of Officer
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 26, 2009) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
First Source Resources, Inc. (TSX VENTURE:FSR) ("First Source" or the "Company") today announced that it will be conducting a non-brokered private placement equity financing under which it will issue up to 6,000,000 common shares at a price of $0.10 per common share for gross proceeds of up to $600,000. The securities to be issued under the financing will be subject to a four-month hold period.
The terms of the financing are subject to the approval of the TSX Venture Exchange. The proceeds from the financing will be used for general working capital of the Company, including funding the Company's anticipated 2009 exploration work and drill program on its Lac Des Pics property.
The Company also wishes to announce that it has removed Wayne Lockhart from the office of Chief Geologist for the Company. Mr. Lockhart remains a director of the Company. Risk Reduction Resources Inc., which specializes in advanced geophysical survey methods, will be supervising the Company's anticipated 2009 exploration work and drill program.
About the Company
First Source Resources Inc. is a mineral exploration company headquartered in Vancouver, British Columbia. The Company's objective is to develop a balanced portfolio of properties through a combination of grassroots prospecting, property acquisition and the formation of strategic relationships. The Company currently holds a 100% interest in the Lac des Pics Property in the Province of Quebec.