Constantine Announces Non-Brokered Private Placement
Vancouver, BC – Constantine Metal Resources Ltd. (TSX-V:CEM, OTCQX:CNSNF) (“Constantine” or the “Company”) is pleased to announce that it plans to conduct a non-brokered private placement of up to approximately 3.33 million units of Constantine (the “Units”) at a price of $0.15 per Unit to raise gross proceeds of up to $500,000 (the “Offering”). Each Unit will be comprised of one common share in the capital of the Company (a “Share”) plus one-half of a common share purchase warrant (each whole such warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one additional Share at a price of $0.20 per Share for a period of two years from the date of closing of the Offering (the “Closing Date”).
Proceeds from the Offering will be used for general corporate purposes and to evaluate precious metals opportunities, including the potential for gold exploration on the Company’s approximately 154 square kilometer 100% owned lands contiguous to the Palmer Project Joint Venture lands.
Closing of the Offering is subject to the receipt of all applicable regulatory approvals, including the approval of the TSX Venture Exchange. All securities to be issued pursuant to the Offering will be subject to a statutory hold period in Canada of four months and one day following the Closing Date.
About the Company
Constantine is a mineral exploration company led by an experienced and proven technical team with a focus on the polymetallic Palmer Deposit being advanced as a joint venture between Constantine (51%) and Dowa Metals & Mining Co., Ltd. (49%), with Constantine as operator. The plan is to continue to expand and discover new resources while the project is being advanced towards feasibility.
On Behalf of Constantine Metal Resources Ltd.
For further information, please visit the Constantine website at www.constantinemetals.com, or contact:
Garfield MacVeigh, President
Phone: +1 604 629 2348