Claim Post Resources Inc.

Claim Post Resources Inc.

September 30, 2009 14:50 ET

Claim Post Resources Announces Private Placement

TORONTO, ONTARIO--(Marketwire - Sept. 30, 2009) - Claim Post Resources Inc. (the "Company") is pleased to announce that it has engaged Pope & Company Limited to undertake, on a best efforts basis, a brokered private placement (the "Offering") of up to $3,000,000 of the Company's securities. The Offering will consist of any combination of (i) "flow-through" units ("Flow-Through Units") at an issue price of C$0.30 per Flow-Through Unit, up to a maximum of 6,666,666 Flow-Through Units, and (ii) units (the "Units"), at an issue price of C$0.25 per Unit.

Each Flow-Through Unit will consist of one flow-through share (a "Flow-Through Share") of the Company and one half of one common share purchase warrant (each whole warrant, a "Warrant"), whereas each Unit will consist of one common share (a "Common Share") of the Company and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share of the Company at the exercise price of C$0.50 per Common Share for a period of 24 months following the closing of the Offering.

With a land position of 152 square kilometers, Claim Post Resources is one of the largest land holder in the West Timmins gold district in Northern Ontario. The Company intends to use the funds to further explore its wholly owned Kamiskotia Property, as well as for corporate purposes.

Claim Post Resources President and C.E.O., Charles Gryba commented "Recently, there has been renewed interest in this camp, prompted by a number of successful exploration campaigns that are testing new and deeper targets. This area remains underexplored and highly prospective for both gold and base metals. This is a good time to list the shares on a public market and we intend to complete a listing as soon as practicable."

About Claim Post Resources Inc.

Claim Post Resources Inc. is a Canadian based mineral exploration company and a reporting issuer in Ontario, Alberta and British Columbia. The Company currently holds a 100 % interest in the mineral rights to an approximate 135 square kilometre land package in the Kamiskotia Lake Area, 20 km Northwest of Timmins, Ontario. The Company also holds 15 square kilometres in the camp that it has recently optioned to Osisko Mining Corporation. Claim Post Resources continues to stake ground as it becomes available. There are 21,207,833 million shares issued and outstanding.

Contact Information

  • Claim Post Resources Inc.
    Charles Gryba
    President and Director
    416 594 3223
    or
    Claim Post Resources Inc.
    Peter Gryba
    Corporate Affairs
    416 203 3776