Search Minerals Increases Non-Brokered Private Placement

Search Minerals Inc. (TSXV:SMY) revised the terms of its non-brokered private placement financing that was previously announced on May 29, 2012, and will be offering up to 7,000,000 units at a price of $0.16 per unit for gross proceeds of up to $1,120,000.

As quoted in the press release:

Each unit is comprised of one common share of the Company and one common share purchase warrant.  Each warrant shall be exercisable into one additional common share of the Company for a period of 24 months from closing of the private placement at an exercise price of $0.21.

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