/NOT FOR DISTRIBUTION TO NEWS WIRE SERVICES IN THE UNITED STATES/
VANCOUVER, June 5 /CNW/ - Logan Resources Ltd. (TSXV:LGR) ("The Company")
today announced a non-brokered private placement consisting of up to 6,500,000
units (the "Units") at a price of $0.05 per Unit, for gross proceeds of up to
$325,000 (the "Offering"). The Units will be comprised of one common share and
one-half of one share purchase warrant (a "Warrant"). Each whole Warrant will
entitle the holder to purchase one common share at a price of $0.10 per share
for a period of two years.
The Company may, in appropriate circumstances, pay finder's fees in
connection with the Offering. The Offering is subject to TSX Venture Exchange
acceptance. All securities issued pursuant to the Offering will be subject to
a four-month hold period from the closing date. The proceeds from the Offering
will be used for general working capital.
Logan Resources Ltd. is a mineral exploration company that specializes in
acquiring, exploring and advancing Canadian mineral properties. The Company
has a diversified portfolio of precious metal, base metal, iron and uranium
projects. For more information on the property portfolio and the Company,
please visit www.loganresources.ca, www.sedar.com and www.sec.gov websites.
ON BEHALF OF THE BOARD
President and CEO
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.
This news release does not constitute an offer to sell or a solicitation
of an offer to sell any of the 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 registration is available.
For further information:
For further information: Seamus Young, President & CEO,
firstname.lastname@example.org, T: (604) 689-0299 x 223; Earl Hope, Investor
Relations, email@example.com, T: (604) 689-0299 x 232