TSX Venture Exchange Symbol - CNP
VANCOUVER, Dec. 17 /CNW/ - Cannon Point Resources Ltd. (the "Company")
is pleased to announce the closing of a non-brokered private placement
on December 17, 2010 of 33,500,000 units at a price of $0.15 per unit
to raise proceeds of $5,025,000. Each Unit consists of one common share
and one common share purchase warrant. Each whole warrant entitles the
holder to purchase one common share at a price of $0.20 per common
share on or before December 17, 2015.
The securities issued pursuant to the private placement are subject to a
hold period expiring on April 18, 2011. Proceeds will be used for
general working capital and for continuing to research opportunities in
the natural resources sector.
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 Cannon Point Resources Ltd.
For further information: For further information:
Gordon Keep, Director and Chief Executive Officer, at Suite 3123 - 595 Burrard Street, Vancouver, British Columbia, telephone: (604) 609-6110.