Module Expands Unit Financing


    BLAINE, WA, Jan. 30 /CNW/ - Module Resources Incorporated (TSX-NEX :
MLE.H) announces today that, subject to regulatory approval, it intends to
expand a non-brokered private placement announced on December 18, 2008 of up
to 2,187,500 Units at a subscription price of C$0.08 per Unit to up to
6,250,000 Units for gross proceeds of C$500,000. On that date the Company
announced a financing comprising flow-through shares and Units. The
flow-through component of the financing has been fully subscribed. Each Unit
will comprise one Common Share and One-Half of One Common Share Purchase
Warrant. Each whole Common Share Purchase Warrant will entitle the holder to
purchase an additional Common Share at an exercise price of C$0.12 per share
for a period of 12 months. The proceeds from this offering will be used for
the development of the Company's Ladner Gold Project located in southern
British Columbia and for general working capital purposes. A portion of the
Units being purchased may be subject to a 9% cash finder's fee. All of the
securities issued under this private placement will be subject to a four-month
hold period.

    On behalf of the board of directors,

    "J.Graham Eacott"


    The TSX-NEX Exchange has not reviewed and does not accept responsibility
    for the adequacy or the accuracy of this press release. We seek Safe

    Caution concerning forward-looking information

    This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable securities laws.
This information and statements address future activities, events, plans,
developments and projections. All statements, other than statements of
historical fact, constitute forward-looking statements or forward-looking
information. Such forward-looking information and statements are frequently
identified by words such as "may," "will," "should," "anticipate," "plan,"
"expect," "believe," "estimate," "intend" and similar terminology, and reflect
assumptions, estimates, opinions and analysis made by management of Module in
light of its experience, current conditions, expectations of future
developments and other factors which it believes to be reasonable and
relevant. Forward-looking information and statements involve known and unknown
risks and uncertainties that may cause Module's actual results, performance
and achievements to differ materially from those expressed or implied by the
forward-looking information and statements and accordingly, undue reliance
should not be placed thereon. Risks and uncertainties that may cause actual
results to vary include but are not limited to the speculative nature of
mineral exploration and development, including the uncertainty of reserve and
resource estimates; operational and technical difficulties; the availability
of suitable financing alternatives; fluctuations in gold and other commodity
prices; changes to and compliance with applicable laws and regulations,
including environmental laws and obtaining requisite permits; political,
economic and other risks; fluctuations in foreign exchange rates; as well as
other risks and uncertainties which are more fully described in our annual and
quarterly Management's Discussion and Analysis and in other filings made by us
with Canadian securities regulatory authorities and available at Module disclaims any obligation to update or revise any
forward-looking information or statements except as may be required by law.

For further information:

For further information: Brent Jones, Investor Relations Manager,
E-mail:, Phone: (360) 332-4653, Fax: (360)

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890