Zephyr Closes Private Placement
Zephyr Closes Private Placement
Trading Symbol: TSX-V: ZFR OTC:ZPHYF
Shares Outstanding: 47,332,620
HALIFAX
,
Nov. 2, 2018
/CNW/ - Zephyr Minerals Ltd. ("
Zephyr
" or the "
Company
") (TSXV: ZFR)
(OTC: ZPHYF), has closed a non-brokered private placement raising
$150,000
through the issuance
of 1,000,000 units at a price of
$0.15
per unit. Each unit consists of one common share and one-half
warrant of the Company ("Unit"). Every two one-half common share purchase warrants of the
Company entitles the subscriber to acquire one common share of the Company for
$0.20
for a
period of twelve months from the closing date.
Net proceeds from the funds raised will be used to advance the Dawson Gold Project in
Colorado,
USA
, and for general working capital purposes. All securities issued in connection with the private
placement, including the shares and warrants comprising the units are subject to a statutory four-
month hold period that expires on
March 2, 2019
. The private placement remains subject to final
acceptance by the TSX Venture Exchange.
In connection with the closing, the Company paid a cash finder's fee of
$10,500
and issued 70,000
finder's warrants to Leede Jones Gable Inc. Each finder's warrant entitles the holder to acquire one
common share of the Company at
$0.20
for a period of twelve months from the closing date.
About Zephyr Minerals Ltd.
Zephyr Minerals Ltd. continues to advance it's 100% owned high grade Dawson Gold Project and
Green Mountain Property in
Colorado, USA
. After completing a positive PEA, Zephyr is continuing
with permitting and additional engineering, with a near term focus on exploration and resource
expansion.
CAUTIONARY STATEMENT:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release. This press release contains forward-looking statements. More particularly, this press
release contains statements concerning the use of funds from the private placement.
The forward-looking statements contained in this document are based on certain key expectations
and assumptions made by the Company, including, with respect to the use of funds from the
private placement, expectations and assumptions concerning timing of receipt of required
regulatory approvals and third party consents and the satisfaction of other conditions to the
completion of the exploration work on the Dawson Gold Property.
The forward-looking statements contained in this document are made as of the date hereof and the
Company undertakes no obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or otherwise, unless so required
by applicable securities laws.
To be included in the Zephyr email database for Company updates please contact
, or visit our website
www.zephyrminerals.com
for more information.
SOURCE
Zephyr Minerals Ltd.
View original content:
http://www.newswire.ca/en/releases/archive/November2018/02/c8285.html
%SEDAR: 00030509E
For further information:
David H. Felderhof, Executive VP & Director, Zephyr Minerals Ltd., T: 902
446-4189, F: 866 941-4715
CO: Zephyr Minerals Ltd.
CNW 15:17e 02-NOV-18