Cartier Resources Inc.

Cartier Resources Inc.

July 10, 2009 11:26 ET

Cartier Resources Inc. Announces Closing of a $275,000 Financing

VAL-D'OR, QUEBEC--(Marketwire - July 10, 2009) - Cartier Resources Inc. ("Cartier") (TSX VENTURE:ECR) is pleased to announce the closing of a private placement on July 9th, 2009 with SIDEX, s.e.c., SODEMEX II s.e.c. and the Fonds de solidarité FTQ for gross proceeds of 275 000 $. In total, Cartier issued 1 250 001 units (the "Units") at a price of $0.22 per Unit, with each Unit consisting of one (1) common share at a price of $0.22 per share and one (1) common share purchase warrant, each warrant entitling the holder to subscribe for one (1) common share at a price of $0.30 for a period of two (2) years following the closing date.

However, if, at any time commencing four (4) months after the closing date, the weighted average trading price of the common shares of Cartier, is or exceeds $0.35 for a period of 20 trading days, Cartier may accelerate the expiry date by giving prior notice to the holders of warrants within 10 days immediately following such 20 trading day period. In such event, the warrants, if unexercised, will expire on the 30th calendar day following the date on which such notice will be deemed to have been received by such holders. The notice will be deemed to be received five (5) days following its sending.

The Units are subject to a hold period which will expire on November 10th, 2009.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Cartier Resources Inc.
    Philippe Cloutier
    President and CEO
    819-874-1331/Toll free: 877 874-1331
    819-874-3113 (FAX)