Fair Sky Resources Inc.
TSX VENTURE : FSK

Fair Sky Resources Inc.

April 11, 2007 12:33 ET

Fair Sky Resources Inc. Announces $5.125 Million Private Placement

CALGARY, ALBERTA--(CCNMatthews - April 11, 2007) -

(NOT INTENDED FOR DISSEMINATION IN THE UNITED STATES)

Fair Sky Resources Inc. (TSX VENTURE:FSK) is pleased to announce that it intends to sell, by way of non-brokered private placement, up to 2.5 million common shares on a "flow through" basis at a price of $2.05 per share for gross proceeds to Fair Sky of up to $5.125 million. Proceeds from the offering will be used to finance Fair Sky's exploration activities in Alberta and Saskatchewan, thereby incurring eligible Canadian exploration expenses which will be renounced in favour of subscribers of the flow-through shares on or before December 31, 2007. Fair Sky has received expressions of interest from institutional investors for approximately $3.0 million to date. It is anticipated that the closing of the offering will occur on or about Monday, April 16, 2007, subject to receipt of all required regulatory approvals.

After giving effect to the equity issuance, Fair Sky will have approximately 15.8 million common shares issued and outstanding which trade on the TSX-Venture Exchange under the symbol "FSK".

The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Fair Sky Resources Inc.
    Tim Kemp
    President, CEO
    (403) 264-5337
    or
    Fair Sky Resources Inc.
    Jasmine Smith
    Sr. Manager, Investor Relations
    Email: ir@fairskyresources.com