Seafield Announces Private Placement of Units

Seafield Resources Ltd. (TSX VENTURE:SFF) reported that the company intends to complete a private placement offering of up to 14,285,714 units at a price of $0.175 per Unit, for gross proceeds of up to $2,500,000.

The press release is quoted as saying:

Each Unit will consist of one common share (a “Common Share”) of the Company and one common share purchase warrant (a “Warrant”) with each Warrant entitling the holder thereof to purchase a Common Share at an exercise price of $0.25 for a period of two years following the closing of the Offering. The Offering is expected to close on June 4, 2010.

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