Kesselrun Resources Announces $2.22 Million Equity Financing With
Strategic Metals Ltd.
THUNDER BAY, ON, Nov. 14, 2012 /CNW/ - Kesselrun Resources Ltd.
(TSXV:KES) ("Kesselrun") is pleased to announce a private placement
financing (the "Offering") with Strategic Metals Ltd. (TSXV:SMD)
("Strategic") whereby Strategic will acquire 3,700,000 Flow-Through
Common Shares of Kesselrun at a price of $0.60 per Flow-Through Common Share for gross
proceeds of $2,220,000.00.
Following closing of the Offering, Strategic will hold
approximately 16% of Kesselrun's issued and outstanding common
shares.
Michael Thompson, P. Geo.,
President & CEO of Kesselrun stated, "We are very pleased that
Strategic Metals has decided to make this substantial investment in
Kesselrun. This further validates our confidence in the potential
of the Bluffpoint project."
The Offering remains subject to the acceptance of the TSX
Venture Exchange. The gross proceeds from the sale of the
Flow-Through Common Shares will be used for exploration and
development of Kesselrun's flagship Bluffpoint project in
Northwestern Ontario.
Finder's fees may be paid in connection with this Offering.
About Strategic Metals Ltd.
Strategic has interests in over 160 properties, including 41 that
are under option to other companies and 21 in which Strategic holds
net smelter return royalty interests. Strategic is well funded with
working capital of more than $80
million including cash and marketable securities.
Strategic's major shareholdings include 9.1% of ATAC Resources
Ltd., 18.7% of Silver Range Resources Ltd., 32.3% of Rockhaven
Resources Ltd., 19.9% of Precipitate Gold Corp., and 19.9% of
Wolverine Minerals Corp. For more information about Strategic
Metals, please visit www.strategicmetalsltd.com.
About Kesselrun Resources Ltd.
Kesselrun Resources is a newly formed Thunder Bay, Ontario-based mineral exploration
company focused on growth through property acquisitions and
discoveries. Kesselrun's management team possesses strong
geological and exploration expertise with particular experience in
Northwest Ontario. For more
information about Kesselrun Resources, please visit
www.kesselrunresources.com.
Forward Looking Statements
This release includes certain statements that may be deemed to be
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address events or
developments that the Company expects to occur, including without
limitation, the private placement, are forward looking statements.
Forward looking statements are statements that are not historical
facts and are generally, but not always, identified by the words
"expects", "plans", "could" or "should" occur. Although the Company
believes the expectations expressed in such forward looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results may differ
materially from those in forward looking statements. Factors that
may cause the actual results to differ materially from those in
forward-looking statements include gold prices, results of
exploration and development activities, regulatory changes, defects
in title, availability of materials and equipment, timeliness of
government approvals, continued availability of capital and
financing and general economic, market or business conditions. The
Company cautions the foregoing list of important factors is not
exhaustive. Investors and others who base themselves on the
Company's forward-looking statements should carefully consider the
above factors as well as the uncertainties they represent and the
risk they entail. The Company believes that the expectations
reflected in those forward-looking statements are reasonable, but
no assurance can be given that these expectations will prove to be
correct. Please see the public filings of the Company at
www.sedar.com.
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 news release.
SOURCE Kesselrun Resources Ltd.