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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: tyc:> who wrote (68718)	1/18/2010 2:18:54 PM
From: philv	Read Replies (2) \| Respond to of 78406

Its mentioned in this N.R. SELWYN CLOSES $1 MILLION NON-BROKERED FLOW-THROUGH FINANCING Selwyn Resources Ltd. has closed the previously announced (see Stockwatch news dated Dec. 23, 2009) non-brokered offering of securities. Pursuant to the offering, the company issued 3,636,364 flow-through shares for gross proceeds of $1-million. Each flow-through share was priced at 27.5 cents per share. The securities have a hold period that expires on April 30, 2010. A finder's fee of 6 per cent of the total amount raised was paid in respect of the securities being sold. The securities were sold pursuant to applicable securities law exemptions in the provinces of Ontario, British Columbia and such other provinces of Canada as the company may determine and in such jurisdictions outside of Canada, as the company determined. Both Resource Capital Fund IV LP and Pan Pacific Metal Mining Corporation, a subsidiary of Korea Zinc Corporation, have rights under their respective shareholder agreements to participate in the financing as to the number of shares that would maintain their equity interest at approximately 19.77 per cent. Therefore once instructions have been received from these parties within the required notice period, additional shares may be issuable at the same share price. The proceeds of the financing will be used for continued exploration activities on the Selwyn project.