|Wed Nov 24, 2010|
Sultan Minerals Completes Non-Brokered Private Placement
|November 24, 2010, Vancouver, BC - Sultan Minerals Inc. (SUL -- TSX Venture) ("Sultan") is pleased to announce that it has completed its previously announced non-brokered private placement, of 4,662,500 units (the "Units") at a price of $0.08 per Unit, for gross proceeds of $373,000 (the "Offering").|
Each Unit is comprised of one (1) common share (the "Common Share") in the capital of Sultan and one non-transferable share purchase warrant (the "Warrant"). Each whole Warrant is 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. At closing of the Offering a Finder's Fee of $1,600 was paid.
All Common Shares, Warrants, and any shares and/or warrants issuable upon the exercise thereof are subject to a hold period and may not be traded before March 25, 2010. 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,
President and CEO
For further information, please contact:
Marc Lee, Investor & Corporate Communications
Tel: (604) 687-4622 Fax: (604) 687-4212 Toll Free: 1-888-267-1400
Email: email@example.com or firstname.lastname@example.org
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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