VANCOUVER, BC--(Marketwired - January 17, 2017) - First Point Minerals Corp. (TSX VENTURE: FPX) ("First Point" or the "Company") is pleased to announce that it has arranged a non-brokered private placement to raise gross proceeds of up to $320,000 (the "Offering"). The Offering will consist of up to 3,200,000 common shares (the "Shares") at $0.10 per Share in the capital stock of the Company. Insiders of the Company intend to participate in the Offering and a finder's fee may be payable on a portion of the Offering.
All the securities issued pursuant to this private placement will be subject to a four (4) month hold period. Completion of the Offering is subject to receipt of all required regulatory and other approvals, including acceptance by the TSX Venture Exchange.
The proceeds raised from the Offering will be used by First Point for the advancement of the Company's flagship Decar nickel project, and for general working capital purposes.
"On closing this financing, we will be well-positioned to continue advancing our 100%-owned Decar nickel project, located in central British Columbia," said Martin Turenne, President and CEO. "Specifically, we will undertake optimization programs on various project parameters, including an assessment of potential commercial payability for Decar nickel-iron concentrates and comminution testing on Decar ores. The results of these programs will be incorporated into an amended preliminary economic assessment, which the Company will continue to develop throughout 2017."
About First Point
First Point Minerals Corp. is focused on the exploration and development of the Decar Nickel-Iron Alloy Project, located in central British Columbia, and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite.For more information, please view the Company's website at www.firstpointminerals.com or contact Martin Turenne, President and CEO, at (604) 681-8600.
On behalf of First Point Minerals Corp.
Martin Turenne, President and CEO
Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.