VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 11/19/13 -- Fairmont Resources Inc. (TSX VENTURE: FMR) ("Fairmont") is pleased to announce a proposed private placement offering of up to 5,000,000 shares at a price of $0.05 per share for gross proceeds of $250,000 (the "Offering").
There is no warrant associated with the offering.
Subject to TSX Venture Exchange approval, Fairmont will pay finders a fee consisting of shares on proceeds of the proposed offerings.
Proceeds of the offerings will be used to fund Fairmont's exploration programs on its mineral properties, property acquisitions, as well as for general working capital and corporate purposes.
Closing of the proposed offerings is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange.
Fairmont is a mineral exploration company focused on exploration and development in Canada. Fairmont currently holds an option to acquire a 100% interest in the Marmion South Property, a 100% interest in the Houghton Lake Property, which are located in Northwestern Ontario.
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fairmont cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Fairmont's control. Such factors include, among other things: risks and uncertainties relating to Fairmont's exploration program of its mineral properties, Fairmont's ability to complete the private placement financing and Fairmont's limited operating history. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.
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.
Fairmont Resources Inc.
Michael A. Dehn
President and CEO
604-306-2525 (direct) or Toll Free: 1-877-614-6113