Mr. Sherman Dahl reports
SKRR EXPLORATION INC. ANNOUNCES PRIVATE PLACEMENT
SKRR Exploration Inc. intends to complete a non-brokered private placement of up to 10 million units at a price of 25 cents per unit for gross proceeds of up to $2.5-million. Each unit will comprise one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable to purchase one common share of the company at a price of 50 cents per share for a period of 18 months from the date of closing of the private placement.
The private placement is subject to TSX Venture Exchange approval and all securities are subject to a four-month hold period. Finders’ fees may be payable in connection with the private placement, all in accordance with the policies of the TSX Venture Exchange and applicable securities laws.
The net proceeds from the private placement will be used for future exploration work on the company’s Olson gold project, corporate development, and general corporate and working capital purposes.
The company also announces the granting of incentive stock options to certain of its directors, officers and consultants to purchase up to an aggregate 1.05 million common shares of the company at a price of 30 cents per common share, vesting on the date of grant and exercisable for a period of five years.
About SKRR Exploration Inc.
SKRR Exploration is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties. The company has an option to acquire up to a 75-per-cent interest and title to the Olson gold project, located in the La Ronge, Sask.
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