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| | June 29, 2010
Non-Brokered Private Placement
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| | NOT FOR DISSEMINATION IN THE UNITED STATES OR VIA US NEWSWIRE SERVICES
Argus Metals Corp. (the "Company") announces a non-brokered private placement to raise up to $1,000,000 through the sale of its common shares (the "Private Placement"). The Private Placement will be comprised of 2,500,000 flow-through common shares (the "FT Shares") at a price of $0.12 per share to raise up to $300,000; and up to 5,000,000 non-flow-through units (the "Units") at a price of $0.10 per Unit to raise up to $700,000, each Unit comprising of one of common share and one-half of one transferable share purchase warrant (the "Warrants"), each whole Warrant exercisable into one common share at a price of $0.15 per share for a period of one year from the date of issuance.
The proceeds of the private placement will be used by the Company for 2010 exploration on the Company's Hyland Gold Project in the Yukon Territory, advancement of the Kaituma Gold/Uranium project in Guyana and for project development and general working capital purposes.
The Private Placement is subject to TSX Venture Exchange approval. Finder's fees may be payable with respect to the Private Placement, payable as to 7% in cash or 9% in common shares of the Company, in accordance with Exchange policies.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Collins
President and CEO
For further information, please contact:
Argus Metals Corp.
350-580 Hornby Street,
Vancouver British Columbia, Canada V6C 3B6
Telephone: (604) 687-2471
Facsimile: (604) 687-2472
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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| | You can view the Next News Releases item: Wed Jul 14, 2010, Hyland Gold 2010 Drill Program Begins
You can view the Previous News Releases item: Wed Jun 23, 2010, Kaituma Uranium-Gold Project Phase I
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