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| | August 05, 2010
Argus Closes 1st Tranche of Private placement
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| | Vancouver, B.C., August 5, 2010 -- Further to news release dated June 29, 2010, Argus Metals Corp. (the "Company") announces that it has received TSX Venture Exchange approval to the 1st tranche closing of its private placement. The Company raised an aggregate $579,800 through the issuance of 2,415,000 flow-through shares at a price of $0.12 per share and 2,900,000 non-flow-through units at a price of $0.10 per unit (each a "Unit") under the placement. Each Unit consists of one common share and one-half of one transferable share purchase warrant. Each warrant is exercisable for up to one year from the closing date, at a price of up to $0.15 per share.
A finder's fee of $16,800 and 22,500 common shares of the Company were paid in connection with the 1st tranche closing. The shares issued in relation to this financing are subject to a hold period expiring December 4, 2010.
Proceeds from this financing will be used for the 2010 exploration on the Company's Hyland Gold Project in the Yukon Territory, advancement of the Kaituma Gold/Uranium project in Guyana, as well as for project development and general working capital purposes.
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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| | You can view the Next News Releases item: Tue Aug 17, 2010, Argus Discovers New Sulphide Mineralization Zone At Hyland Gold Project
You can view the Previous News Releases item: Wed Jul 14, 2010, Hyland Gold 2010 Drill Program Begins
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