Fort Chimo Minerals Inc.

July 25, 2005 10:58 ET

Fort Chimo Approved For Listing On CNQ And Completes Private Placement

TORONTO, ONTARIO--(CCNMatthews - July 25, 2005) - Fort Chimo Minerals Inc. (CNQ:FORT) is pleased to announce that the common shares of the Company have been approved for listing on the CNQ under the symbol "FORT". The shares will be eligible for trading on the CNQ commencing Tuesday, July 26, 2005.

In addition, the Company announces that it has completed a private placement of 1,200,000 units at $0.25 per unit for gross proceeds of $300,000. Each unit is comprised of one flow-through common share of the Company and one common share purchase warrant. Each warrant entitles the holder to acquire a common share at an exercise price of $0.25 for a period of two years from the date of issuance.

One insider of the Company has participated in the offering on the same terms as the arm's length investors. The private placement has closed, except for the units to be issued to the insider, which will be issued 21 days from the date of the material change report filed in connection with this press release.

Shares Outstanding: 37,287,498

Contact Information

  • Fort Chimo Minerals Inc.
    James M. Brady
    (416) 368-0999
    (416) 368-6836 (FAX)