The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents hereof.
Snowfield Development Corp. ("Snowfield") announced on January 29, 2008 (NR 08-04) that it had negotiated a non-brokered private placement offering (#39) of 1,500,000 Units at a price of $0.35 per Unit. Each Unit consisted of one (1) common share in the capital of Snowfield and one (1) non-transferable share purchase warrant ("Warrant"). Each Warrant would be exercisable for a period of one (1) year from the closing date and would entitle the holder to purchase one (1) additional common share in the capital stock of Snowfield at a price of $0.35 per share. The expiry date of each Warrant is one (1) year from the closing date.
The proceeds from the sale of 1,500,000 Units of $525,000.00 was applied to programs of exploration on Snowfield's Ticho Project located near the Drybones Bay area, Great Slave Lake, Northwest Territories, approximately 50 km south of Yellowknife, N.W.T. and to working capital for administrative expenses, accounts payable and operational expenses. The private placement was closed after the final documentation was accepted for filing by the TSX Venture Exchange on February 13, 2008.
Any funds received by Snowfield from the exercise of Warrants will be added to general working capital. The common shares from the Units and the common shares from the exercise of Warrants were subject to a hold period of four (4) months from the distribution date.
ON BEHALF OF THE BOARD
"Robert T. Paterson"
President
SNOWFIELD DEVELOPMENT CORP.
Next