Vancouver, BC - Skyharbour Resources Ltd. (TSX-V: SYH) (the "Company") announces that it has arranged a non-brokered private placement of up to 20,000,000 units at a price of $0.05 per unit.
Each unit consists of one common share and one non-transferable share purchase warrant (the "Warrant"). Each Warrant entitles the holder to purchase a common share (the "warrant shares") of the Company at a price of $0.10 per warrant share for a period of three years from the date of closing of the private placement.
The Company intends to utilize the proceeds from the private placement for payment of outstanding debt, for property investigations, and for general working capital.
There will be no finder's fee payable in connection with this private placement offering.
There will be no new control person created in connection with this private placement offering.
The private placement is subject to the acceptance of the TSX Venture Exchange.
About Skyharbour Resources Ltd.:
Skyharbour Resources Ltd. is a gold and base metal exploration company developing projects in the Red Lake district of northwestern Ontario, Canada.
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH), visit the Company's website at www.skyharbourltd.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Don Myers"
Donald Myers
Director
For further information contact myself or:
Don Myers
Director
Skyharbour Resources Inc.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.