|Thu Oct 28, 2010|
Sultan Minerals Announces Non-Brokered Private Placement
|Vancouver, BC - Sultan Minerals Inc. (SUL-TSX-Venture) ("Sultan" or the "Company") is pleased to announce that it is inviting qualified investors to participate in a private placement of up to 6,750,000 units (the "Units") at a price of $0.08 per Unit, for gross proceeds of up to $500,000 (the "Offering"). The Offering is subject to the acceptance of the TSX Venture Exchange.|
Each Unit is comprised of one (1) common share (the "Common Share") in the capital of Sultan and one (1) non-transferable share purchase warrant (the "Warrant"). Each whole Warrant will be exercisable into one Common Share for a period of 24 months from the date of issue at an exercise price of $0.15 per share.
All Units, Common Shares, Warrants, and any shares and/or warrants issuable upon the exercise thereof will be subject to a hold period and may not be traded for four months plus one day from the date of closing of the Offering. Net proceeds from the Offering will be used for general working capital.
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:
Marc Lee, Investor and Corporate Communications
Tel: (604) 687-4622 Fax: (604) 687-4212 Toll Free: 1-888-267-1400
Email: firstname.lastname@example.org or email@example.com
This release was prepared by Sultan's management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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