Symbol: SPR-TSX V
VANCOUVER, Oct. 16 /CNW/ - Supreme Resources Ltd. (the "Company") announced a brokered private placement of $400,000 by the sale of 4,000,000 Flow-Through Units, at a price of $0.10 per Unit (the "Offering") on September 18, 2009.
The Company has closed subscriptions for 1,000,000 Units placed by Raymond James Ltd. who was paid $50,000 and issued 50,000 shares. The 1,050,000 shares issued on September 29, 2009 and any shares issued upon exercise of the warrants have a hold period expiring on January 30, 2010.
The Company has received an over subscription for a total of 5,250,000 Units for aggregate proceeds of $525,000.
The Company expects to receive all proceeds by mid November, 2009 and complete the issue of shares and warrants thereafter, subject to the acceptance of the TSX Venture Exchange.
The proceeds of the Offering will be used for exploration work on the Company's mining project located in the Similkameen Mining Division, British Columbia.
On behalf of
SUPREME RESOURCES LTD.
Per: "Allan Levien"
President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the accuracy or adequacy of this release.
For further information: For further information: Allan Levien, (604) 941-3716, firstname.lastname@example.org