Search Minerals Inc. (TSXV:SMY) announced the closure of a non-brokered private placement. The Company issued 1,400,000 flow-through units for gross proceeds of $252,000. The proceeds will be used to fund a drill program at Search’s Pesky Hill prospect.
As quoted in the press release:
All securities issued pursuant to the private placement are subject to a four month hold period which will expire four months and one day from the date of closing, being February 17, 2013.