First Point Minerals Completes Previously Announced Follow-on Private Placement First Point Minerals Corp. (FPX-TSX.V) ("First Point" or the "Company") announces that Cliffs Natural Resources Exploration Inc., an affiliate of Cliffs Natural Resources Inc. (NYSE: CLF) (Paris: CLF) ("Cliffs"), has exercised its pre-emptive right to acquire sufficient securities of the Company in order that Cliffs will hold a 15% ownership interest in First Point, for net proceeds of C$436,454. Pursuant to the exercise of the pre-emptive right, which was granted under the terms of the Option Agreement between the parties dated November 12, 2009, as amended (the "Option Agreement"), Cliffs purchased 779,382 units of First Point on a private placement basis at a price of C$0.56 per unit. Each unit is comprised of one common share in the capital of First Point and 0.0365 of a common share purchase warrant (the "Cliffs Private Placement"). Each whole warrant will be exercisable at a price of C$0.72 for a period expiring June 26, 2014. The common shares issued pursuant to the Cliffs Private Placement are subject to a four month hold period ending November 26, 2012. The Cliffs Private Placement was not subject to any broker fees. About First Point First Point Minerals Corp. is a Canadian base and precious metal exploration company operating worldwide. For more information, please view the Company's website at www.firstpointminerals.com or contact Jim Gilbert, President and CEO, or Rob Robertson, VP Corporate Development, at (604) 681-8600. On behalf of First Point Minerals Corp. "Jim Gilbert" Jim Gilbert, President and CEO - TSX Venture Exchange: FPX Suite 906 -- 1112 West Pender Street Vancouver, BC Canada V6E 2S1 Tel: 604.681.8600 Fax: 604.681.8799 e-mail: info@firstpointminerals.com Forward-Looking Statements Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.
First Point Min. est une société d’exploration minière d'or et d'argent basée au Canada.
First Point Min. détient divers projets d'exploration au Honduras.
Ses principaux projets en exploration sont CORRALITOS au Mexique, DECAR et JOE au Canada et TULE et CAMPORO au Honduras.