THUNDER BAY, ON, Nov. 14, 2012 /CNW/ - Kesselrun Resources Ltd.
(TSXV:KES) ("Kesselrun") is pleased to announce a private placement
financing (the "Offering") with Strategic Metals Ltd. (TSXV:SMD)
("Strategic") whereby Strategic will acquire 3,700,000 Flow-Through
Common Shares of Kesselrun at a price of $0.60 per Flow-Through Common
Share for gross proceeds of $2,220,000.00.
Following closing of the Offering, Strategic will hold approximately 16%
of Kesselrun's issued and outstanding common shares.
Michael Thompson, P. Geo., President & CEO of Kesselrun stated, "We are
very pleased that Strategic Metals has decided to make this substantial
investment in Kesselrun. This further validates our confidence in the
potential of the Bluffpoint project."
The Offering remains subject to the acceptance of the TSX Venture
Exchange. The gross proceeds from the sale of the Flow-Through Common
Shares will be used for exploration and development of Kesselrun's
flagship Bluffpoint project in Northwestern Ontario.
Finder's fees may be paid in connection with this Offering.
About Strategic Metals Ltd.
Strategic has interests in over 160 properties, including 41 that are
under option to other companies and 21 in which Strategic holds net
smelter return royalty interests. Strategic is well funded with working
capital of more than $80 million including cash and marketable
securities. Strategic's major shareholdings include 9.1% of ATAC
Resources Ltd., 18.7% of Silver Range Resources Ltd., 32.3% of
Rockhaven Resources Ltd., 19.9% of Precipitate Gold Corp., and 19.9% of
Wolverine Minerals Corp. For more information about Strategic Metals,
please visit www.strategicmetalsltd.com.
About Kesselrun Resources Ltd.
Kesselrun Resources is a newly formed Thunder Bay, Ontario-based mineral
exploration company focused on growth through property acquisitions and
discoveries. Kesselrun's management team possesses strong geological
and exploration expertise with particular experience in Northwest
Ontario. For more information about Kesselrun Resources, please visit www.kesselrunresources.com.
Forward Looking Statements
This release includes certain statements that may be deemed to be
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address events or
developments that the Company expects to occur, including without
limitation, the private placement, are forward looking statements.
Forward looking statements are statements that are not historical facts
and are generally, but not always, identified by the words "expects",
"plans", "could" or "should" occur. Although the Company believes the
expectations expressed in such forward looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance and actual results may differ materially from those in
forward looking statements. Factors that may cause the actual results
to differ materially from those in forward-looking statements include
gold prices, results of exploration and development activities,
regulatory changes, defects in title, availability of materials and
equipment, timeliness of government approvals, continued availability
of capital and financing and general economic, market or business
conditions. The Company cautions the foregoing list of important
factors is not exhaustive. Investors and others who base themselves on
the Company's forward-looking statements should carefully consider the
above factors as well as the uncertainties they represent and the risk
they entail. The Company believes that the expectations reflected in
those forward-looking statements are reasonable, but no assurance can
be given that these expectations will prove to be correct. Please see
the public filings of the Company at www.sedar.com.
Neither the 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 news
SOURCE: Kesselrun Resources Ltd.
For further information:
Kesselrun Resources Ltd.
Michael Thompson, P.Geo, President & CEO
Adam Rabiner, Corporate Communications
604.868.7881 or NA Toll-Free 866.416.7941
Strategic Metals Ltd.
W. Douglas Eaton, President and C.E.O.
Bruce A. Youngman, Chairman
Richard Drechsler, Corporate Communications
604.687.2522 or NA Toll-Free 888.688.2522