2005 News Releases
Maple Closes $2.123 Million Financing
TORONTO, ONTARIO, July 5, 2005 – Maple Minerals Corp. ("Maple") (TSXV: MPM) is pleased to announce that it has raised $2,123,550 pursuant to its financing originally announced on June 7, 2005. In connection with the financing, Maple issued 1,573,000 flow-through shares at a price of $1.35 per flow-through share. Each flow-through share consists of one common share in the capital of Maple.
Securities issued pursuant to the financing have a 4 month hold period which expires on November 6, 2005. Completion of the financing remains subject to the final approval of the TSX Venture Exchange.
Dundee Securities Corporation acted as agent in the financing and received a cash commission equal to 6% of the aggregate gross proceeds, as well as broker warrants exercisable for 94,380 common shares of Maple at $1.35 per share until July 5, 2007.
Proceeds of the sale of the flow-through common shares will be used for exploration of Maple’s Canadian properties with an anticipated focus on its Shebandowan group of claims located 120 km west of Thunder Bay, Ontario, Canada. Two claim groups (Hamlin and Deaty) of the Shebandowan group of claims are on strike to the recently announced copper-zinc massive sulphide discovery by Freewest Resources Inc.
Maple Minerals Corp. is a Toronto based resource company with property interests in Australia, Mongolia Argentina, Africa, and Canada. For more information about Maple, please visit the company’s website at www.mapleminerals.com.
This news release contains forward-looking statements within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Maple’s results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof. Maple disclaims any intent or obligation to update these forward-looking statements and cautions investors from placing undue reliance on forward-looking statements. Maple does have an ongoing obligation to disclose material information as it becomes available.
The TSX Venture Exchange has not reviewed does not accept responsibility for the adequacy or accuracy of this release.
L.M. (Gino) Falzone