Silver Quest Announces $2.625 Million Private Placement

Dec. 09, 2010 07:52PM PST

Silver Quest Resources Ltd. (CVE:SQI) announces that it has arranged a non-brokered private placement of up to 3,500,000 flow-through common shares.

Silver Quest Resources Ltd. (TSXV:SQI) announces that it has arranged a non-brokered private placement of up to 3,500,000 flow-through common shares.

The press release is quoted as saying:

The Company will pay certain persons who locate subscribers for the Offering (the “Finders”), a cash finders’ fee of 6% of the gross proceeds of the Offering attributable to that Finder and compensation warrants (the “Compensation Warrants”) entitling the Finders to purchase such number of common shares as is equal to 6% of the number of Shares attributable to the Finders for a period of 12 months from closing at an exercise price of $0.75 per share.

Click here to access the entire press release