Vancouver, BC -- Skyharbour Resources Ltd. (TSX.V: SYH) announces it has arranged a non-brokered private placement of up to 3,000,000 units at an offering price of $0.10 per unit. Each unit will consist of one common share and one non-transferable share purchase warrant entitling the holder to purchase a common share of the Company at a price of $0.135 for a period of two years.
The Company will pay, if applicable, a finder's fee in units equal to 7.5% of the private placement on the same terms.
The Company intends to utilize the proceeds from the private placement for general working capital purposes and to be expended on work programs to be carried out on the Company's properties located in the Red Lake and Rainy River Districts of northwestern Ontario.
The private placement is subject to TSX Venture Exchange acceptance.
About Skyharbour Resources Ltd.:
Skyharbour Resources is a mineral exploration company that focuses on the acquisition and exploration of projects in Northwestern, Ontario. The Company has options or interests in 11 gold or base metal properties located in the Red Lake and Rainy River greenstone belt.
ON BEHALF OF THE BOARD OF DIRECTORS
Jim Pettit, Director
For further information contact myself or:
Skyharbour Resources Ltd.
VP Corporate Communications
Toll Free: 800-567-8181
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.