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Strategies & Market Trends : Dino's Bar & Grill
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To: Goose94 who wrote (8514)9/5/2014 7:53:59 AM
From: Goose94 of 202731
 
Fairmont Resources (FMR-V) Sept 4th 2014 has increased its previously announced private placement from two million units to a maximum of three million units at 15 cents per unit for gross proceeds of up to $450,000.Each unit will continue to consist of one common share and one-half share purchase warrant. Each full warrant will entitle the holder to purchase one share for a period of 12 months at an exercise price of 25 cents per share.

Fairmont may accelerate the warrant term for the outstanding but unexercised warrants such that the warrant term shall expire at 5 p.m. PT on the day that is 30 calendar days after the date that Fairmont first issues the acceleration notice. In order to exercise the acceleration rights: the average closing price must have been equal to or greater than 35 cents (subject to adjustment for forward or reverse stock splits, recapitalizations, stock dividends or other changes to Fairmont's corporate or capital structure) for 10 consecutive trading days prior to the date that Fairmont exercises the acceleration rights; and Fairmont must issue a news release announcing its intention to exercise the acceleration rights within five business days after the end of the particular 10-day period relied upon by Fairmont.

A finder's fee will be payable on the private placement, subject to the policies of the TSX Venture Exchange.

Proceeds of the private placement financing will be used for exploration work on Fairmont's mineral properties and general working capital purposes.
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