SOURCE: First Point Minerals Corp.

First Point Minerals Corp.

April 20, 2016 07:30 ET

First Point Minerals Announces $570,000 Financing

VANCOUVER, BC--(Marketwired - April 20, 2016) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

First Point Minerals Corp. (TSX: 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 $570,000 (the "Offering"). The Offering will consist of up to 11,400,000 common shares (the "Shares") at $0.05 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 Toronto Stock Exchange.

The proceeds raised from the Offering will be used by the Company for general working capital purposes.

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"
Martin Turenne, President and CEO

Forward-Looking Statements

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 Toronto Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • First Point Minerals Corp.
    Suite 725 - 1155 West Pender Street
    Vancouver, BC Canada V6E 2P4
    Tel: 604.681.8600
    Fax: 604.681.8799
    e-mail: info@firstpointminerals.com