Claim Post Resources Inc.

Claim Post Resources Inc.

March 11, 2014 09:00 ET

Claim Post Resources Inc. Announces Completion of Financing

TORONTO, ONTARIO--(Marketwired - March 11, 2014) - Claim Post Resources Inc. (TSX VENTURE:CPS) (the "Company") announces that it has completed its previously announced private placement financing, as described in its news releases dated December 24, 2013, January 2, 2014, January 31, 2014 and February 3, 2014. The Company issued a total of 2,860,000 Units and 1,000,000 Flow-Through Units for total gross proceeds of $203,000 with each Unit consisting of one common share and one warrant. Each warrant entitles the holder to purchase one common share at an exercise price of $0.10 per share for a period of 36 months from the date of issuance.

In connection with the closing of the financing, the Company paid total cash finder fees of $14,210 and issued a total of 267,200 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 financing 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 (4) month hold period.

Claim Post Resources Inc. is a Canadian based mineral exploration company and a reporting issuer in Ontario, Alberta and British Columbia. The Company is focused on becoming a leading provider of premium white silica sand proppant to oil operations in the Williston Basin (both the Canadian and U.S. sides of the Border), and to the natural gas plays in the Montney and Horn River basins along the Alberta - British Columbia border from its Seymourville Frac Sand Project, located 200 km northeast of Winnipeg, Manitoba. Claim Post also has mineral claims in the Timmins area for gold and base metal exploration. There are 96,452,164 common shares of the Company currently 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

    Claim Post Resources Inc.
    Peter Gryba
    Corporate Affairs