October 15, 2007
The Company has negotiated a private placement to raise up to $2,100,000 through the issuance of Units at $0.30 per Unit. Each Unit is comprised of one common share and one-half non-transferable share purchase warrant exercisable for one year at $0.60. The net proceeds from the private placement will be used for general working capital.
There will be a finder’s fee payable of up to 7%, payable through cash or a combination of both cash and common shares.
The financing is subject to receipt of applicable regulatory approvals.
For further information on the Company, please call our office at (604) 687-8863 or visit our web site at www.prospectorresources.com
On behalf of the Board
Brian Stewart
Director & Vice President, Business Development
This press release has been prepared by management; the TSX Venture Exchange has not reviewed
and does not accept responsibility for the adequacy or accuracy of this release. |
