Elm Tree Minerals Private Placement Financing Update
ELM TREE minerals Inc.
710 - 890 W. Pender St - Vancouver, BC - V6C 1J9 Tel: 604.669.2151 / Fax: 604.669.2136 Website: www.elmtreeminerals.com
ETM-NR-8-12 May 16, 2012 TSX-V: ETM
Elm Tree Minerals Private Placement Financing Update
Vancouver, B.C. - (May 16, 2012 - TSX-V: ETM) Elm Tree Minerals Inc. (“Elm Tree”) is pleased to announce that it has amended its private placement announced March 21, 2012 to increase the funds being raised thereby to $655,300 of its securities consisting of the sale of 6,553,000 units (the "Units") at a price of $0.10 per Unit, each unit consisting of one common share in the capital of the Company and one non-transferable share purchase warrant (the "Warrant"), with each such Warrant entitling the holder to acquire one additional common share of the Company at a price of $0.12 per share for a period of three years. The warrants will be subject to an acceleration clause that would require their exercise within thirty days of notice from the Company in the event that the Company's shares trade at or above $0.20 per share for a period of 20 days. The Company may pay finder's fees or commissions in cash and/or securities with respect the private placement.
Further, the Company is pleased to announce that the private placement is fully subscribed and all subscription funds have been received by the Company. Closing is subject only to acceptance for filing by the TSX Venture Exchange, application for which is in process.
Securities issued under the private placement will be subject to a four month hold period which will expire four months and one day from the date of closing date of the private placement.
About Elm Tree Minerals
Elm Tree is a junior resource mineral exploration company with an interest in the gold, silver and base metal Keymet Project located in the Bathurst Mining Camp, New Brunswick. To find out more about Elm Tree Minerals, visit Elm Tree's website at www.elmtreeminerals.com
ELM TREE MINERALS INC.
Per: "Michael Waggett"
Everett Resources Ltd. News Release Page 2
Michael Waggett, President
For more information, please contact:
Elm Tree Minerals Ltd.
Michael Waggett President, CEO and Director (604) 669-2151 Office E: [email protected] W: www.elmtreeminerals.com
Or
Tribeca Capital Partners Inc.
Jamie Hyland (604) 669-2151 Office (778) 938-8760 Cell E: [email protected] W: www.elmtreeminerals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release.
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