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Claim Post Resources Acquires Majority Stake in Manitoba Frac Sand Deposit

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Claim Post Resources Inc. (CPS.V) has acquired 75% of the Seymourville Silica Sand Deposit in Manitoba, by making payment in the amount of $150,000 to Char Crete Ltd.

Claim Post Resources also announced it is continuing its financing for up to 35,000,000 units at a price of $0.10 per unit for gross proceeds of up to $3.5 million.

The proceeds received from the offering will be used (1) to fund the acquisition of a silica sand quarry project located near Seymourville, Manitoba; (2) to carry out a 3,000 metre drilling program towards completing a resource estimation in accordance with NI 43-101; (3) to complete a marketing study and a scoping study on the project (Preliminary Economic Assessment); and (4) for general working capital purposes.

Claim Post completed an initial closing of the offering for gross proceeds of $250,000 which will be used for advancing the Char Crete Ltd. purchase and general working capital.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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