Claim Post Resources Inc. said the company has acquired 100 percent of the Seymourville Silica Sand Deposit in Manitoba, Canada, by making the final payment in the amount of $150,000 to Char Crete Ltd.
Claim Post Resources is also continuing its $3,500,000 financing as stated in a press release dated Feb. 21, 2013. The non-brokered private placement offering of up to 35,000,000 units is at a price of $0.10 per unit for gross proceeds of up to $3,500,000. Each unit is comprised of one common share and one common share purchase warrant. Each warrant is exercisable at an exercise price of $0.15 per share for a period of three years from the date of issuance.
The proceeds received from the offering to date have been used to fund the acquisition of a silica sand quarry project located near Seymourville, 200 km northeast of Winnipeg, Manitoba. Ongoing financing will be used to:
- Carry out a 3,000 m drilling program toward completing resource estimation in accordance with NI 43-101 regulations.
- Complete a marketing study and a scoping study on the project (Preliminary Economic Assessment).
- For general working capital purposes.
Claim Post major shareholders and management have loaned $150,000 to Claim Post to acquire the final 25 percent of the Char Crete leases to increase Claim Post’s ownership to 100 percent. The nine Char Crete sand leases cover an area of 478.7 hectares or 1,053 acres. Claim Post is setting up a wholly-owned Manitoba registered company to hold the ownership of the leases.