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| | Fri Apr 7, 2006
Firestone Ventures Announces Private Placement
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| | April 7, 2006 - Firestone Ventures Inc. (FV: TSX-V) announced today that the Corporation intends to proceed with a non-brokered private placement ("Private Placement") of units ("Units"), subject to regulatory approval, to raise up to $2,500,000 and issue up to 4,166,667 Units at $0.60 per Unit. Each Unit will consist of one common share and one-half (1/2) of one share purchase warrant. Each whole Warrant will entitle the holder thereof to purchase one additional common share for a price of $0.75 per share until 5:00 p.m. on the earlier of: (i) the date which is eighteen (18) months from the closing date; and (ii) following the four month hold period after the closing date, and in the event that the closing price of the common shares on the TSX Venture Exchange is at least $1.25 for a minimum of 20 consecutive trading days (whether or not trading occurs on such days) (the "Triggering Event"), the Corporation may, in its sole discretion, within 30 days of the Triggering Event, provide written notice to the Subscriber that the exercise period has been reduced to 30 days following delivery of such notice.
The Corporation may pay, in accordance with all regulatory requirements, finder's fees to agents for obtaining subscriptions for Units pursuant to TSX Venture Exchange Policy, and the Units will be subject to a four month hold period.
The proceeds of the private placement will be used for exploration on existing Canadian and International properties and for working capital requirements.
Firestone Ventures Inc. has a portfolio of high quality uranium, zinc, copper and gold properties. For further information, please contact:
Lori Walton, P. Geol., President Toll Free: 1-888-221-5588 Fax: (780) 428-3476
info@firestoneventures.com www.firestoneventures.com Trading Symbol: FV: TSX-V
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release |
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| | You can view the Next News Releases item: Wed Apr 26, 2006, Firestone Ventures Announces Private Placement Closing
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