Business & Finance
Business and FinanceBusiness and Finance 
Thu, December 24, 2009
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 24, 2009) - Central Resources Corp., (TSX VENTURE:CBC) ("Central" or the "Company") is pleased to announce that it has increased and subsequently closed the non-brokered flow-through private placement previously announced on December 10, 2009.
To accommodate over-subscriptions, a total of 2,180,999 common shares were issued, on flow-through basis, at a price of $0.35 per share for gross proceeds of approximately $763,350. In connection with the financing, the Company paid $4,515 in finder fees and issued 90,000 common shares (at a deemed price of $0.35 per share) in lieu of a cash fee to finders.
The Company intends to use the proceeds of the financing to continue the exploration program on its Newman Todd gold project in Red Lake, Ontario, in which the Company has the option to earn a 60% interest. All of the securities issued in connection with the private placement are subject to four month hold periods that expire on April 23, 2010. The private placement is subject to the final acceptance of the TSX Venture Exchange.
About Central Resources
Central Resources Corp. is a junior mineral exploration company created to leverage the extensive knowledge and expertise of a team of financial and resource industry professionals. The management team is committed to developing a successful junior resource company through the acquisition and exploration of properties of merit.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirement of such Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Neither 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.