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906-1112 W. Pender St.
Vancouver, B.C. V6E 2S1
Telephone: 604-681-8600
Toll Free: 1-866-FPM-8601
Fax: 604-681-8799
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| |   Mon Mar 16, 2009
First Point Minerals Closes $250,000 Private Placement Financing
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| | Peter M. D. Bradshaw, P. Eng., President and Chief Executive Officer of First Point Minerals Corp. (TSXV:FPX) is pleased to announce that on March 13th, First Point closed a non-brokered private placement financing to two arm's-length investors consisting of 2,500,000 units ("Units") at a price of $0.10 per Unit, for gross proceeds to the Company's treasury of $250,000. No commissions or finder's fees were payable in connection with this financing. Each Unit is comprised of one common share (a "Share") and one-half of one non-transferable share purchase warrant ("Warrant") of the Company. Each whole Warrant will entitle its holder to purchase one additional common share (a "Warrant Share") at an exercise price of $0.15 per share for a period of 24 months from closing of the transaction.
In accordance with securities regulations currently in effect, the Shares, Warrants and Warrant Shares will be subject to a "hold" period that will expire on July 14, 2009.
The funds will be used, in part, to fund First Point's nickel alloy exploration program and related hydrometallurgical testing program at the University of British Columbia and for working capital. The proceeds from the exercise of the Warrants, if any, will provide general working capital.
For more information, please view: www.firstpointminerals.com, or phone Peter M.D. Bradshaw, President and CEO, or Ron Britten, Vice-President of Exploration, at (604) 681-8600.
FIRST POINT MINERALS CORP.
"Peter M.D. Bradshaw"
Peter M.D. Bradshaw, President - (TSXV:FPX)
Suite 906 - 1112 West Pender Street
Vancouver, BC V6E 2S1
Tel.: 604-681-8600
Fax: 604-681-8799
The TSX Venture Exchange has not reviewed, nor accepts responsibility for the adequacy or accuracy of this news release. |
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| | You can view the Next News Releases item: Thu May 21, 2009, First Point Adds to Claim Holdings at Decar Nickel Project
You can view the Previous News Releases item: Thu Feb 26, 2009, First Point Minerals Arranges $250,000 Private Placement Financing
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