|Mon Dec 5, 2005|
Sultan Minerals Closes Flow-Through Private Placement Financing
|Sultan Minerals Inc. (SUL-TSX Venture) ("Sultan") is pleased to announce that, it has closed its previously announced (see press release dated November 29, 2005) non-brokered private placement of 1,483,333 flow-through shares (the "FT Shares") at a price of $0.15 per FT Share, for gross proceeds of $222,500.|
A total of $15,500 was paid and 100,000 Finder's Warrants were issued to finders. Finder's Warrants are exercisable until November 30, 2006, at a price of $0.17 per share. All FT Shares and Finder's Warrants issued, and any common shares issuable upon the exercise of Finder's Warrants, are subject to a hold period and may not be traded for four months expiring March 31, 2006.
Proceeds from the non-brokered private placement will be used to fund exploration programs on Sultan's Kena Gold Property and its Jersey-Emerald Molybdenum Property, both located in British Columbia.
For further information on Sultan's projects, visit www.sultanminerals.com.
Arthur G. Troup, P.Eng., Geological
President and CEO
For further information please contact:
Tel: (604) 687-4622 Fax: (604) 687-4212
No regulatory authority has approved or disapproved the information contained in this news release.
You can view the Previous 2005 News Releases item: Tue Nov 29, 2005, Sultan Minerals Third Quarter Review
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