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January 30th, 2014, VANCOUVER, B.C. – CARIBOU KING RESOURCES LTD. (“Caribou” or the “Company”) (TSX-V: CKR) (CB8–FRANKFURT)announces that it has arranged a non-brokered private placement of up to 4 million flow-through units (“FT Units”), at a price of $0.05 per FT Unit and up to 3 million non-flow-through units (“NFT Units”), at a price of $0.05 per NFT Unit for aggregate gross proceeds of $350,000 (the “Offering”). Each FT Unit will be comprised of one flow-through common share (“FT Share”) and one half share purchase warrant of the Company (“FT Warrant”). Each full FT Warrant entitles the holder to purchase an additional non-flow-through share at a price of $0.10 per share for a period of 24 months. Each NFT Unit will be comprised of one common share (“Share”) and one common share purchase warrant of the Company (“NFT Warrant”). Each NFT Warrant will entitle the holder to purchase an additional share at a price of $0.06 for a period of 24 months.
Proceeds of the Flow-Through portion of the financing will be used to advance the Company’s graphite projects in Ontario and Quebec. Proceeds of the Non-Flow-Through portion of the financing will be used for the Company’s short term payables and for general working capital.
The private placement is subject to TSX Venture Exchange acceptance.
Finder’s fees may be payable on the private placement, subject to the policies of the TSX Venture Exchange.
For more information, visit the website at www.caribouking.com.
ON BEHALF OF THE BOARD
Michael England, CEO, Caribou King Resources Ltd.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Toll Free: 1-888-945-4770
Neither the 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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