Cairo Resources Inc.
TSX VENTURE : QAI.H

February 04, 2015 14:13 ET

Cairo Completes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 4, 2015) -

THIS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Cairo Resources Inc. (TSX VENTURE:QAI.H) (the "Company") is pleased to announce that it has completed a non-brokered private placement of 214,807 common shares ("Shares") at a price of C$0.15 per common share for gross proceeds of $32,221.05 (the "Offering"), subject to TSX Venture Exchange approval. The proceeds of the Offering will be used by the Company for identifying and completing a qualifying transaction and for working capital purposes. 99,999 of the Shares being acquired by each of Darren Devine, Darryl Cardey and Paul Reynolds as to 33,333 shares each are subject to the Company's CPC Escrow Agreement dated January 30, 2011.

All securities issued under the Offering are subject to a four month hold period expiring on June 5, 2015, in accordance with applicable Canadian securities laws.

ON BEHALF OF THE BOARD OF CAIRO RESOURCES INC.

Darryl Cardey, President & Chief Executive Officer

NEITHER THE 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

  • Cairo Resources Inc.
    Darryl Cardey
    President and CEO
    604-638-8063
    604-648-8105 (FAX)