Excalibur Completes First Tranche of Financing

Excalibur Resources Ltd. (CNQ:XBR) reports that it has completed a first tranche of a private placement of 5,780,000 Units at $0.10 per Unit.

The press release is quoted as saying:

Each Unit consists of one common share and one share purchase warrant, exercisable to acquire an additional common share at $0.15 per share until August 12, 2013 and at $0.20 per share until August 12, 2013. No finder’s fees were paid in respect of this tranche.Net proceeds will be used to further the Company’s exploration programs on the Silver King Property near Nelson, British Columbia, the Sturgeon Lake Property in northwestern Ontario, and its Catanava gold production project in Mexico, as well as general working capital.

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