Confederation Minerals Ltd. (the “Company”) is pleased to announce it has entered into financing agreements to complete a private placement to raise up to $50,100.00 through the issuance of 334,000 units at $0.15. Each unit will consist of one common share and one warrant exercisable at a price of $0.25 for two years from closing. The proceeds of the private placement will be used for general working capital. A finder’s fee may be payable in accordance with the rules and polices of the TSX Venture Exchange. The terms of the financing and finder’s fee are subject to regulatory approval.
Shares for Debt
The Company also announces that it has made arrangements to issue 1,251,250 common shares at deemed value of $0.15 per share in satisfaction of $187,687.50 owed to various insiders. All shares issued will be subject to a four month hold period from the date of issue. The proposed settlement of debt is subject to acceptance by the TSX Venture Exchange.
ON BEHALF OF THE BOARD OF DIRECTORS
:signed “Peter Bryant”
Chief Financial Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This release has been prepared by management and no regulatory authority has approved or disapproved the information contained herein.