VAL-D'OR, CANADA--(Marketwired - Dec. 19, 2013) - Cartier Resources Inc. (TSX VENTURE:ECR) ("Cartier") is pleased to announce the closing of two private placements without intermediate.
- The first private placement is a non-flow-through with two Québec Institutional Funds and consists of 2,500,000 units for an amount of $250,000.
- The second private placement is a flow-through private placement with accredited investors, directors, officers, friends and business associates for an amount of $569,784.
Each unit of the non-flow-through private placement at a price of $0.10 per unit is comprised of one (1) common share and one (1) common share purchase warrant entitling the holder to subscribe for one (1) common share at a price of $0.16 for a period of 24 months following the closing date.
Thus, an aggregate of 2,500,000 common shares and 2,500,000 common share purchase warrants were issued.
Under the flow-through private placement, the following securities were issued by Cartier, 3,561,150 flow-through shares at a price of $0.16 per share for an amount of $569,784.
The securities issued under both private placements are subject to a four (4) month and one (1) day statutory hold period.
The proceeds of both placements will be used by Cartier to conduct exploration, mainly on the Benoist project which returned excellent results from the most recent drilling program.
This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.
The common shares of Cartier Resources Inc. are listed on the TSX Venture Exchange under the symbol "ECR".
Neither, the TSX Venture Exchange or 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.