Trading Symbol: TSX-V: ZFR
Shares Outstanding: 16,621,129
HALIFAX, Feb. 25, 2013 /CNW/ - Zephyr Minerals Ltd. ("Zephyr" or the "Company") (TSXV: ZFR), is pleased to announce that it has increased the size of the non-brokered private placement financing originally announced on February 6, 2013 (the "Offering"). Zephyr will now sell sell up to 2,778,000 units of the Company at a price of $0.18 per unit for gross proceeds of up to $500,040.
All other terms of the Offering announced on February 6, 2013 in news release 01-13 remain unchanged.
The net proceeds from the funds raised will be used to conduct exploration work on the Dawson Gold Project in Colorado, USA, and for general working capital purposes. All shares and warrants are subject to a four-month hold period.
Closing of the non-brokered offering is anticipated to occur on or about February 28, 2013, and is subject to receipt of applicable regulatory approvals, including approval of the TSX Venture Exchange.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: ZEPHYR MINERALS LTD.
For further information:
Loren Komperdo, President & CEO
David H. Felderhof, Executive Vice President
Zephyr Minerals Ltd.
T: 902 446-4189
F: 866 941-4715