Carlisle Goldfields Limited

Carlisle Goldfields Limited

February 24, 2010 18:15 ET

Carlisle Goldfields Completes Third and Final Tranche of Non-Brokered Private Placement

TORONTO, ONTARIO--(Marketwire - Feb. 24, 2010) - Carlisle Goldfields Limited ("Carlisle" or the "Company") is pleased to announce that it has successfully completed a third and final tranche of a non-brokered private placement of units at a price of $0.05 per unit (the "Offering"). The third tranche raised gross proceeds of $140,000 (2,800,000 units), increasing the aggregate proceeds of the three tranches to $746,500 (14,930,000 units). Each unit is comprised of one common share and one share purchase warrant, each warrant issued on the third tranche entitling the holder to purchase one common share for $0.10 at any time on or before February 24, 2011. All securities issued pursuant to this private placement will be subject to a four (4) month hold period.

The gross proceeds from the Offering will be used to fund accounts payable and ongoing operating costs, as well as exploration expenses in connection with the Company's gold properties in the Lynn Lake area of northern Manitoba.

For further information please contact: Mr. Carl McGill, Vice-President Corporate Development and a Director of Carlisle Goldfields Limited by telephone: 416-278-8406 or by mail: 133 Richmond Street West, Suite 204, Toronto, Ontario, M5H 2L3.

This release was prepared by management of the Company who take full responsibility for its contents.

This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The common shares will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.

This press release contains forward-looking statements within the meaning of applicable Canadian and U.S. securities regulation, including statements regarding the use of the proceeds of the Offering and other future activities of the Company. Forward-looking statements reflect the current beliefs and expectations of management and are identified by the use of words including "will", "anticipates", "expects", "expected to", "plans", "planned" and other similar words. Actual results may differ significantly from the results contemplated in forward-looking statements. The achievement of the results expressed in forward-looking statements is subject to a number of risks, including the risk that the proceeds of the Offering may be used for purposes other than as disclosed herein as well as those risks described in the Company's management discussion and analysis as filed with the Canadian securities regulatory authorities which is available at Investors are cautioned not to place undue reliance upon forward-looking statements.

Contact Information

  • Carlisle Goldfields Limited
    Mr. Carl McGill
    Vice-President Corporate Development and a Director