News Release (NR 07-30) ? November 14, 2007
Trading Symbol: TSX Venture: SNO Shares Issued: 79,986,869
Snowfield Development Corp. (the ?Company?) announces that it has negotiated and fully subscribed a non-brokered private placement offering of 800,000 Units at a price of $0.25 per Unit. Each Unit consists of one (1) common share in the capital of the Company and one (1) non-transferable share purchase warrant (?Warrant?). Each Warrant will be exercisable for a period of two (2) years from the closing date and will entitle the holder to purchase one (1) additional common share in the capital stock of the Company at a price of $0.25 per share.
The fully subscribed proceeds from the sale of the Units were $200,000.00, which will be applied to undertake programs of exploration and development on the Company?s Drybones Bay, Northwest Territories diamond exploration properties, to pay accounts payable and accrued liabilities and to reserve for administrative costs and working capital. Any funds received by the Company from the exercise of Warrants will be added to working capital. The private placement will be closed when the final documentation is accepted for filing by the TSX Venture Exchange.
The common shares from the Units and the common shares from the exercise of Warrants, if any, are subject to a hold period of four (4) months from the distribution date, the expiry date of each Warrant is two (2) years from the closing date.
On behalf of the Board of Directors,
Snowfield Development Corp
Robert T. Paterson
President and Director
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENTS HEREOF.
Snowfield est une société d’exploration minière basée au Canada.
Snowfield détient divers projets d'exploration au Canada.
Ses principaux projets en exploration sont NOTTAWAY, TICHO DIAMOND et SNOW au Canada.