TORONTO, Dec. 21, 2012 /CNW/ - Asher Resources Corp. ("Asher" or the "Company") (TSX-V: ACN) is pleased to announce that it has raised $342,500 for the first
tranche of the Company's $1,000,000 non-brokered private placement
which will comprise of 4,000,000 units total. Each unit will consist of
one common share at $0.25 per share and one full common share purchase
warrant which may be exercised by the holder to purchase an additional
common share at a price of $0.35 with an expiry date 24-months from
The Company looks to raise an additional $657,500 under the same terms
as described above which is expect to occur on or about January 21,
The proceeds from this private placement will be used to advance Asher's
King Mine property in Nevada, its Lavington property in British
Columbia, and to provide additional general working capital.
The company agreed to pay finders' fees to arm's-length qualified
parties. All securities issued will be subject to a four-month hold
period from closing.
This private placement remains subject to regulatory approval.
About Asher Resources:
Asher Resources Corporation is a gold exploration company headquartered
in Toronto, Ontario, with a regional office in Reno Nevada. Asher's
mission is to discover and develop high quality North American precious
metal resources with its current focus in southern BC and the Nevada
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 release.
The forward-looking information contained in this press release is made
as of the date hereof and Asher undertakes no obligation to update
publicly or revise any forward-looking information, whether as a result
of new information, future events or otherwise, unless so required by
applicable securities laws.
This news release does not constitute an offer to sell or a solicitation
of an offer to sell any securities in the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or any
state securities laws and may not be offered or sold within the United
States or to U.S. Persons unless registered under the U.S. Securities
Act and applicable state securities laws or an exemption from such
registration is available.
SOURCE: Asher Resources Corporation
For further information:
Richard Buzbuzian at: Telephone: (647) 501-3290, Email: email@example.com