Search Minerals Announces Non-brokered Private Placement of Up To $252,000

Search Minerals Inc. (TSXV:SMY) announced a non-brokered private placement financing of up to 1,400,000 flow-through units at a price of $0.18 per FT Unit for gross proceeds of up to $252,000.

As quoted in the press release:

Each FT Unit is comprised of one flow-through common share of the Company and one common share purchase warrant of the Company.  Each warrant shall be exercisable into one additional non-flow through common share of the Company for a period of 18 months from closing of the private placement at an exercise price of $0.20.

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