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February 23, 2005
Garnet Point (TSX.V: GRC; OTCBB: GRCDF) – Announces Up To $650,000 Private Placement
Vancouver, BC (PRWEB) February 23, 2005 -- Garnet Point Resources Corp. (“Garnet Point”) (TSX.V: GRC), is pleased to announce a non-brokered private placement to raise up to $650,000. The financing will consist of up to 3,000,000 Non Flow-Through Units priced at $0.15 per unit and up to 1,000,000 Flow-Through Units at $0.20 per unit.
Each of the Non-Flow Through and Flow Through units will consist of one common share and one-half share purchase warrant of the Company. Each whole Warrant will entitle the holder, on exercise, to purchase one additional common share of the Company at a price of $0.25 per share at any time until the close of business on the day which is one year from the date of issue of the Warrant.
The proceeds will be used for exploration on the Company’s Mac and Cache properties that have been optioned from Full Metal Minerals (TSX.V:FMM) and for general working capital. A finder’s fee will be payable on all or a portion of the private placement.
The private placement and finder’s fee are both subject to regulatory approval. On Behalf of the Board of Directors Garnet Point Resources Corp. “Aly B. Mawji”
Aly B. Mawji
Director
Contact:
Garnet point Resources Corp.
Investor Relations
Phone (604) 684-2181
Attn: Aly Mawji
(No. 2005-02-01)
Posted by Industrial at February 23, 2005 12:41 PM