International Samuel Exploration Corp.
TSX VENTURE : SAZ

International Samuel Exploration Corp.

June 18, 2008 09:00 ET

International Samuel Announces Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 18, 2008) - International Samuel Exploration Corp. (TSX VENTURE:SAZ) (the "Company") is pleased to announce a non brokered private placement (the "Private Placement") of up to 6,000,000 units (each a "Unit") at a purchase price of $0.12 per Unit raising aggregate gross proceeds to the Company of up to $720,000. Each Unit will consist of one common share issued on a flow-through basis under the Income Tax Act (Canada) and one half of one non transferable non flow through common share purchase warrant (each whole warrant, a "Warrant").

Each Warrant will entitle the holder to purchase one non-flow-through common share of the Company at a purchase price of $0.15 per share for a period of one year from closing of the Private Placement. A finder's fee will be paid in connection with the Private Placement.

Proceeds from the Private Placement will be used to finance the exploration and development of the Company's Ualliq option with Diamonds North Resources Ltd. and the joint venture at Reed Lake, Manitoba. All securities issued in connection with the Private Placement will be subject to a minimum four month hold period. The Private Placement is subject to the approval of the TSX Venture Exchange.

On Behalf of the Board of Directors

Conrad Swanson, President

Safe Harbour Statement: The Company relies upon litigation protection for "forward looking statements."

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Contact Information

  • International Samuel Exploration Corp.
    Conrad Swanson
    President
    (604) 718-5454