FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW. Manson Creek Completes $1,000,000 Non-Brokered Financing
MANSON CREEK RESOURCES LTD.
SUITE 500, 926-5TH AVENUE S.W., CALGARY, ALBERTA, T2P 0N7 PH: 403.233.0464 FAX: 403.266.2606
NEWS RELEASE NOVEMBER 3, 2010
News Release: 10-09 Trading Symbol: TSX Venture-MCK
For Further Information Contact: Regan Chernish at 1.403-233-0464
Web: http://www.manson.ca
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.
Manson Creek Completes $1,000,000 Non-Brokered Financing
Manson Creek Resources Ltd. (‘Manson Creek’) is pleased to announce that it has completed a non-brokered private placement for 18,500,000 units (“Common Units”) at a price of $0.05 per Common Unit and 1,900,000 flow-through units (“FT Units”) at a price of $0.07 per FT Unit for gross proceeds of $1,058,000.
Each Common Unit consists of one common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to purchase one common share at a price of $0.10 per share until May 3, 2012.
Each FT Unit consists of one common flow-through share and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder to purchase one common share at a price of $0.10 per share until May 3, 2012.
The Common Units and FT Units were offered on a non-brokered basis by way of private placement to accredited investors and the securities issued are subject to a hold period until March 4, 2011. A total of 200,000 Units were purchased by a Director of Manson Creek. A finder’s fee of $71,610 (7% of eligible gross proceeds) was paid to eligible agents pursuant to the offering.
Proceeds of the financing will fund gold exploration on the Company’s Newfoundland and Yukon projects and provide general working capital.
“Regan Chernish”
Regan Chernish President/Director
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as “expects”, “projects”, “plans”, “anticipates” and similar expressions, are forward-looking information that represents management of Manson Creek’s internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Manson Creek. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Manson Creek’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Manson Creek’s filings with the Canadian securities authorities. Accordingly, holders of Manson Creek shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Manson Creek disclaims any responsibility to update these forward-looking statements.