One placement will be up to 6.0 million units ("Units") at a price of
The second placement will be up to 20.0 million common shares of the Corporation issued on a flow-through basis pursuant to the Income Tax Act ("Flow-Through Shares") at a price of
The Corporation may pay finder's fees of up to 6% in cash.
All the securities issued pursuant to the private placements will be subject to a four month restricted resale period under Canadian securities laws.
The net proceeds of the proposed private placements will be used to drill a horizontal well at c-81-H/94-B-1 and for general corporate purposes. This well, located at
CSRI is a natural resources Corporation focusing on the identification and development of opportunities in the unconventional natural gas sector of the energy industry.
Information regarding CSRI is available on SEDAR at www.sedar.com or the Corporation's website at www.csri.ca.
On behalf of the Board of Directors,
The corporate information contained in this news release may contain forward-looking forecast information. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonably accurate by CSRI at the time of preparation, may prove to be incorrect. The actual results achieved during the forecast period will vary from the information provided herein and the variations may be material. Consequently there is no representation by CSRI that actual results achieved during the forecast period will be the same in whole or in part as those forecast.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
FOR FURTHER INFORMATION PLEASE CONTACT:
Canadian Spirit Resources Inc. Alfred Sorensen(403) 539-5005 firstname.lastname@example.org Canadian Spirit Resources Inc. Phil Geiger(403) 539-5005 email@example.com Source: Canadian Spirit Resources Inc.