NEW WESTMINSTER, BC, Dec. 31 /CNW/ - Pebble Creek Mining Ltd. ("the Company") is pleased to announce a second
and final closing of its previously announced non-brokered private
placement of up to 10 million units ("Units") at a price of $0.11 per
Unit (the "Private Placement"). In the final closing, the Company
issued a total of 2,865,456 Units for gross proceeds of approximately
$315,200. As a result of the final closing, the Private Placement was
Each Unit is comprised of one common share of the Company and one-half
of one common share purchase warrant, and each whole common share
purchase warrant (a "Warrant") entitles the holder thereof to acquire
one additional common share of the Company at an exercise price of
$0.20 for a term of one year.
The common shares and Warrants comprising the Units issued pursuant to
the final closing, and the common shares underlying these Warrants, are
subject to a hold period which expires on May 1, 2011.
In connection with the final closing, the Company will, subject to the
approval of the TSX Venture Exchange ("TSX-V"), pay finders' fees
totalling $18,920 to several persons acting as finders. Subject to the
TSX-V's approval, the Company will also issue 92,909 common shares of
the Company to one finder, which shares will be subject to a hold
period of four months and one day from the date of their issuance.
The Private Placement is subject to the final approval of the TSX-V.
The net proceeds from the Private Placement will be used for
exploration and development of the Company's mineral projects and for
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.
SOURCE Pebble Creek Mining Ltd.
For further information: For further information:
Andrew Nevin, President & CEO, Telephone: +1 604 250 1795
Mike Romanik, Vice President, Telephone: +1 204 724 0613