Cartier Resources Inc.

Cartier Resources Inc.

June 15, 2010 08:28 ET

Cartier Resources Inc. Announces Closing of a $580,000 Financing

VAL-D'OR, QUEBEC--(Marketwire - June 15, 2010) - Cartier Resources Inc. ("Cartier") (TSX VENTURE:ECR) is pleased to announce the closing of a private placement with Fonds de solidarité des travailleurs du Québec (F.T.Q.), Fonds régional de solidarité FTQ Nord-du-Québec, Sidex, s.e.c., Sodémex II s.e.c. and Société de développement de la Baie-James for gross proceeds of 580,009.50 $. Cartier issued 1,657,170 units at a price of $0.35 per unit, with each unit consisting of one (1) common share and one (1) common share purchase warrant, each warrant entitling the holder to subscribe for one (1) common share at a price of $0.45 for a period of two (2) years following the closing date.

The units are subject to a hold period which will expire on October 15th, 2010.

Part of the proceeds of the offering, will be used by Cartier to complete its Dollier and Diego exploration programs and for general working capital.

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: 1-877 874-1331
    819-874-3113 (FAX)