Claim Post Resources Inc.
TSX VENTURE : CPS

Claim Post Resources Inc.

November 11, 2013 09:00 ET

Claim Post Resources Inc. Announces Completion of Financing

TORONTO, ONTARIO--(Marketwired - Nov. 11, 2013) - Claim Post Resources Inc. (TSX VENTURE:CPS) (the "Company") announces that it has completed the private placement financing as described in its news releases dated July 3, 2013, July 29, 2013, August 27, 2013 and October 8, 2013 in four tranches. The Company issued a total of 31,720,000 Units and 9,083,333 Flow-Through Units for total gross proceeds of $2,131,000.

In connection with the closing of the financing, the Company paid total cash finder fees of $134,690 and issued a total of 1,990,900 finder warrants, with each finder warrant which are exercisable at the price of $0.10 per share and expiring 36 months from the date of closing of the Offering.

The proceeds received from the Offering will be used (1) to carry out a minimum 1,000 meter drilling program towards completing a resource estimation of the "Seymourville Frac Sand Project" in accordance with NI 43-101 rules; (2) to complete a scoping study on the project (Preliminary Economic Assessment); which will give Claim Post the ability to test market forward selling frac sand and (3) for general working capital purposes.

All securities issued in connection with the financing will be subject to a statutory four month hold period.

Claim Post Resources intends to maintain its exploration properties in Timmins, Ontario which are highly prospective for both gold and base metals. The Company continues to seek joint venture partners and strategic arrangements with other companies in the industry to advance the exploration of the large Timmins land holdings.

Claim Post Resources Inc. is a Canadian based mineral exploration company and a reporting issuer in Ontario, Alberta and British Columbia, focused on becoming a leading provider of premium white silica sand proppant to oil operations on the Canadian side of the Williston Basin (southwestern Manitoba and across southern Saskatchewan), and natural gas operations in the Montney and Horn River basins along the Alberta - British Columbia border from its Seymourville Frac Sand Project, located northeast of Winnipeg, Manitoba. The Company also holds interest in minerals claims that are prospective for base and precious metals, wholly within the city limits of Timmins, Ontario. There are 90,092,164 common shares of the Company issued and outstanding.

Statements in this release that are forward-looking reflect the Company's current views and expectations with respect to its performance, business, and future events. Such statements are subject to various risks and assumptions, some, but not necessarily all, are disclosed elsewhere in the Company's periodic filings with Canadian securities regulators. Such statements and information contained herein represent management's best judgment as of the date hereof based on the information currently available; however actual results and events may vary significantly. The Company does not assume the obligation to update any forward-looking statement.

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

  • Claim Post Resources Inc.
    Charles Gryba
    President and Director
    416-203-1681

    Claim Post Resources Inc.
    Peter Gryba
    Corporate Affairs
    416-203-3776
    www.claimpostresources.com