Linear Metals Corporation

Linear Metals Corporation

February 10, 2011 16:07 ET

Linear Metals Announces $1,000,000 Private Placement

HALIFAX, NOVA SCOTIA--(Marketwire - Feb. 10, 2011) - Linear Metals Corporation (TSX:LRM) is pleased to announce that it has arranged a non-brokered private placement of up to 3,333,333 common shares priced at $0.30 per share, for total gross proceeds of up to $1,000,000.

Net proceeds of the Offering will be used for exploration of the Company's mineral properties, strategic property acquisitions and working capital.

The private placement is scheduled to close by February 25, 2011 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval and acceptance by the Toronto Stock Exchange. All securities to be issued pursuant to the private placement will be subject to a four month hold period and no commissions will be paid in connection with the financing.

Forward-Looking Information:

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploitation activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.

For more information on the Company and the risk factors inherent in its business, investors should review the Company's Annual Information Form at

The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Linear Metals Corporation
    Brian MacEachen
    Chief Executive Officer
    (902) 422-1421