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On March 27, 2009 (NR 09-06) and April 20, 2009 (NR 09-09), Snowfield Development Corp. (the "Company") announced a non-brokered private placement offering (#47) of up to 2,500,000 flow-through common shares ("Flow-Through Shares") at a price of $0.03 per Flow-Through Share for proceeds of $75,000.00 if fully subscribed and up to 9,400,000 units at a price of $0.025 per unit for proceeds of up to $235,000.00 if fully subscribed. Each unit consisted of one (1) common share in the capital of the Company and one (1) non-transferable share purchase warrant ("warrant"). Each warrant would be exercisable for a period of eighteen (18) months from the Closing date and would entitle the holder to purchase one (1) additional common share in the capital stock of the Company at a price of $0.05 per share during the first six (6) months and at a price of $0.10 per share during the following twelve (12) months.
Upon submission of the final documentation to the TSX Venture Exchange ("Exchange"), 9,400,000 units and 1,333,333 flow-through shares have been subscribed. Robert Paterson, the President and insider of the Company, has subscribed for 1,800,000 units. As per Exchange Corporate Finance Bulletin dated November 3, 2008, effective December 15, 2008 and extended to September 30, 2009 on March 6, 2009, a four-month hold period is applied to the re-sale of the securities subscribed for by Robert T. Paterson until July 28, 2009.
The private placement was accepted for filing by the TSX Venture Exchange on April 24, 2009.
ON BEHALF OF THE BOARD
"Robert T. Paterson"
President
SNOWFIELD DEVELOPMENT CORP.
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