Vancouver, BC - January 16, 2012: Altair Ventures
Incorporated ("Altair" or the "Company") (TSX-V:
AVX) announces that it plans to raise up to $2,640,000 in a
non-brokered private placement financing (the "Offering").
The Offering consists of up to 12,000,000 units ("the Units")
at a price of $0.22 per Unit (post-consolidation) for gross
proceeds of up to $2,640,000. Each Unit will consist of one
common share and one-half of a common share purchase warrant
(the "Warrant"). Each whole Warrant will entitle the holder
to purchase one additional Altair common share at a price of
$0.33 per share (post-consolidation). All of the Warrants are
exercisable for a period of twelve months from the closing
date of the Offering, subject to the right of the Company to
accelerate the expiry of the Warrants, if, during the term of
the Warrants, the common shares of the Company close at a
price at or above $0.45 per share (post-consolidation) for
more than 20 consecutive trading days. Finder's fees may
be payable on all, or part, of the Offering.
The price per Unit and the exercise price for the Warrants
are offered at a proposed post- consolidation price. Altair
has announced a three-for-one share consolidation in its news
release dated January 3, 2012, which consolidation has not
yet been effected as it is subject to TSX Venture Exchange
acceptance.
Altair also wishes to announce that it will pay a finder's
fee in the form of cash and common shares of Altair (the
"Finder's Fee") to an arms-length party in relation to the
option of the Kena property previously announced in Altair's
news release of January 3, 2012.
The payment of the Finder's Fee is subject to acceptance by
the TSX Venture Exchange. The common shares issued as part of
the Finder's Fee will be restricted from trading for a period
of four months from the date of issuance in compliance with
TSX Venture Exchange policies and applicable securities laws
2
The net proceeds of the Offering will be used by Altair to
fund expenditures on the Kena Property, located in
southeastern British Columbia under Altair's option agreement
with Sultan Minerals Inc. (refer to news release of January
3, 2012), and the Lobstick project in Ontario (refer to news
release of October 31, 2011) and for general working capital
purposes.
The Offering is subject to acceptance for filing by the TSX
Venture Exchange.
For further information please contact Justin Schroenn at
(604) 780-1371, or e-mail js@altairventuresinc.com.
Altair Ventures Incorporated
Per: "Fayyaz Alimohamed"
Fayyaz Alimohamed, President & CEO
Forward-Looking Statement Caution
This news release contains certain "forward-looking
statements", within the meaning of
Canadian securities legislation, relating to the proposed
Offering ,the proposed use of proceeds,
the completion of the consolidation and the payment of the
Finder's Fee. Although Altair believes that such statements
are reasonable, it can give no assurance that such
expectations will prove to be correct. Forward-looking
statements are statements that are not historical fact. They
are based on the beliefs, estimates and opinions of Altair's
management on the date the statements are made and they
involve a number of risks and uncertainties. Consequently,
there can be no assurances that such statements will prove to
be accurate and actual results and future events could differ
materially from those anticipated in such statements. Altair
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a
result of new information, future events or otherwise except
as required by applicable law and stock exchange policies.
Factors that could cause future results to differ materially
from those anticipated in these forward-looking statements
include: Altair's inability to secure subscriptions from
subscribers to complete the proposed Offering in whole or in
part, a management decision to change the use of proceeds
based on changing circumstances, Altair's inability to obtain
the TSX Venture Exchange approval required to complete the
Offering, consolidation or payment of the Finder's Fee,
Altair might encounter problems such as the significant
depreciation of metals prices, accidents and other risks
associated with mining exploration, the risk that Altair will
encounter unanticipated geological factors, the possibility
that Altair may not be able to secure permitting and other
governmental clearances necessary to carry out Altair's
exploration plans, and the other risk factors discussed in
greater detail in Altair's various filings on SEDAR
(www.sedar.com) with Canadian securities regulators.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO US NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.3
THE SECURITIES TO BE ISSUED UNDER THE OFFERING HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933 (AS AMENDED) OR ANY STATE SECURITIES LAWS, AND UNLESS SO REGISTERED MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE UNITED STATES SECURITIES ACT OF 1933 AND APPLICABLE STATE SECURITIES LAWS. THIS PRESS RELEASE IS ISSUED PURSUANT TO RULE 135(C) OF THE UNITED STATES SECURITIES ACT OF 1933 (AS AMENDED), AND DOES NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.distribué par | Ce noodl a été diffusé par Altair Ventures Incorporated et initialement mise en ligne sur le site http://www.altairventuresinc.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-16 23:36:49 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
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