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 closing.
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, 2013.
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 Great Basin.
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 protected]