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Silver Fields Resources Inc

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SILVER FIELDS ANNOUNCES PRIVATE PLACEMENT

 

Silver Fields Resources Inc. is offering a non-brokered private placement for securities in the amount of $690,000.

 

The issue will consist of the following:

 

Non-flow-through units

 

Up to three million non-flow-through units at 10 cents per unit. Each unit consists of one non-flow-through common share in the capital of the company and one share purchase warrant. Each warrant will entitle the holder to buy one additional common share of the company for a period of 24 months from the date of the closing of the private placement at an exercise price of 15 cents for the first 12-month period and 20 cents for the second 12-month period

 

Flow-through units

 

Up to three million flow-through units at 13 cents per unit. Each unit consists of one flow-through common share in the capital of the company and one non-flow-through common share purchase warrant. Each warrant will entitle the holder to buy one additional common share of the company for a period of 24 months from the date of the closing of the private placement at an exercise price of 18 cents for the first 12-month period and 23 cents for the second 12-month period.

 

The gross proceeds of the offering will be used in part for general working capital and the flow-through portion of the private placement will be used for qualified Canadian exploration expenditures.

 

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