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| | Thu Jul 14, 2011
Messina Minerals Inc. Closes Private Placement
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| | This news release, required by applicable Canadian laws, is not for distribution to U.S. news services or for dissemination in the United States and does not constitute an offer of the securities described herein. The securities proposed to be offered in the private placement have not been registered under the U.S. Securities Act of 1933, as amended, or any State securities laws, and may not be offered or sold in the United States or to U.S. Persons absent registration or an applicable exemption from the registration requirements.
Vancouver, BC, July 14, 2011 -- Messina Minerals Inc. (TSX-V:MMI) (the "Company") is pleased to announce that it has closed its recently announced non-brokered equity private placement (see News Release June 13, 2011) by the issuance of 8,800,000 units at a price of $0.10 per unit for gross proceeds to the Company of $880,000. Each unit consists of one common share and one-half non-transferable common share purchase warrant of the Company. Each whole warrant, expiring on January 11, 2013, entitles the holder to purchase one common share of the Company at a price of $0.15. Proceeds received from the private placement are intended to be used to continue exploration work on the Company's properties in central Newfoundland and for general corporate purposes.
Finder's fees were paid to an arms-length party to the Company by way of the issuance of 547,500 finder's units and 547,500 finder's warrants. The finder's units and finder's warrants are the same as the private placement units.
All securities issued pursuant to this private placement are subject to a four month hold period that expires on November 12, 2011.
Peter Tallman President and CEO stated: "With completion of this financing, Messina can begin a sustained exploration program on its central Newfoundland properties targeting copper and zinc mineralization at a time of increasing demand for the metals and forecast mine production shortfalls."
ON BEHALF OF THE BOARD OF DIRECTORS OF
MESSINA MINERALS INC.
"Steve Brunelle"
Director
Neither 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 release.
For further information
Please contact:
Peter Tallman, President
Phone: (604)688-1508 Fax: (604) 601-8253
Email: info@messinaminerals.com
Website: www.messinaminerals.com |
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| | You can view the Next News Releases item: Mon Oct 24, 2011, Messina Commissions NI43-101 Resource Estimate on Main Zone, Central Newfoundland
You can view the Previous News Releases item: Mon Jun 13, 2011, Messina Minerals Inc. Announces Private Placement
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