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| | January 14, 2010
Argus Closes Private placement for a total of $650,000
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| | Vancouver, B.C., January 14, 2010 -- Further to news releases dated November 16, 2009 and December 23, 2009, Argus Metals Corp. (the "Company") announces that it has received TSX Venture Exchange approval to the second tranche and final closing of its private placement. The Company raised $249,000 through the issuance of 2,490,000 units at a price of $0.10 per unit (the "Units") under the second tranche. Each Unit consists of one common share and one transferable share purchase warrant. Each warrant is exercisable for up to two years from the closing, at a price of up to $0.15 per share.
The Shares are subject to a hold period expiring May 13, 2010. There are no finder's fees associated with the private placement.
Combined with the first tranche, the non brokered private placement was fully subscribed for 6,500,000 units with a value of $650,000. The proceeds will be used for exploration and general working capital.
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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