|July 28, 2010|
Cliffmont Increases Financing To $1.7 Million
|Vancouver, British Columbia - July 28, 2010 - Cliffmont Resources Ltd. (TSXV - CMO) is pleased to announce that it has increased its financing, announced on June 17, 2010, by $200,000. The nonbrokered private placement will raise gross proceeds of $1.7 million through the sale of 6.8 million units at a price of $0.25 per unit. Each unit comprises one common share and one]half of one common share purchase warrant. Each full warrant will entitle the holder to purchase an additional common share of the Company for a period of two years from closing at a price of $0.40 per share. There will be finders' fees payable on this financing. The proceeds of this financing will be used to pursue acquisition and exploration of resource properties and for corporate and administrative expenses and working capital.|
The Company is moving to proceed with the closing of the above financing, subject to regulatory approval.
ON BEHALF OF THE BOARD
Jeff Tindale, President and CEO
Telephone: (604) 568-6894
Facsimile: (604) 568-6834
Forward Looking Statements.
This Company news release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
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.
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