June 09, 2005 08:36 ET

Mirabel Closes $151,000 Private Placement Financing

POINTE-CLAIRE, QUEBEC--(CCNMatthews - June 9, 2005) - Mirabel Resources Inc. "Mirabel" or the "Company" (TSX VENTURE:RMB) is pleased to announce that is has successfully closed its recently announced private placement, raising total gross proceeds of $151,000.

Flow Through Financing

Under the terms of the private placement, the Company issued 151 Units at a price of $1,000 per Unit for total proceeds of $151,000. Each Unit consists of 3,125 Flow Through Shares at $0.32 per share. The agent, pursuant to an agency agreement, will receive a commission of 9% of the gross proceeds raised in this private placement for a total of $13,590. Also, the agent will receive non-transferable warrants entitling it to purchase a maximum of 47,188 Common Shares at a price of $0.32 per share for a period of 24 months from the closing.

The securities issued in virtue of the placement will be subject to certain resale restrictions imposed under the applicable securities laws, which require that the securities not be traded for a period of four months from the closing (June 6th, 2005). The proceeds of this placement will be used to fund development work such as: permitting, mine de-watering, rehabilitation of the underground mine access and underground channel sampling on the recently acquired Russian Kid gold property

Mirabel Resources Inc., is a Canadian junior exploration company actively involved in the acquisition, exploration and development of gold projects. The Company's exclusive thermal fragmentation process combined with its growth strategy place it as the partner of choice for the development of narrow high-grade gold bearing quartz vein properties. A TSX-V listed company Mirabel Resources trades under the symbol RMB.


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

Contact Information

  • Mirabel Resources Inc.
    Donald Brisebois
    President and CEO
    (514) 428-4185
    (514) 630-6989 (FAX)
    (514) 247-2549 (cell)
    Mirabel Resources Inc.
    John Stella
    Investor Relations
    (514) 428-4185
    (514) 630-6989 (FAX)
    (514) 718-7976 (cell)