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| | June 03, 2009
Argus Metals Corp. Finalizes Private Placement Financing
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| | NOT FOR DISSEMMINATION IN THE UNITED STATES OR VIA US NEWSWIRE SERVICES
Vancouver, B.C., June 3, 2009 -- Argus Metals Corp. (TSX-V:AML) (the "Company") announces that it has closed the final tranche of the non-brokered private placement offering announced on May 7, 2009. Pursuant to the private placement, and pending TSX Venture Exchange approval, the Company will issue 275,000 common shares at $0.10 per share to raise proceeds of $27,500.00. All securities issued at closing are subject to a four-month hold period, expiring on October 3, 2009.
Each unit of the private placement comprises one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of $0.15 per share for a period of 24 months from the date of issuance.
Proceeds of the financings will be used for the Company's general working capital and to pay certain outstanding debts.
The Company also announces that further to its news release dated May 22, 2009, it has received TSX Venture Exchange acceptance to settling $74,272 of debt by way of the issuance of an aggregate 464,200 common shares (the "Shares"). The Shares are subject to a hold period expiring September 28, 2009.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Collins
President and CEO
For further information, please contact:
Argus Metals Corp.
350-580 Hornby St,
Vancouver BC, V6C 3B6
Telephone: (604) 687-2471
Facsimile: (604) 687-2472
Website: www.argusmetalscorp.com
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 news release. |
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