First Point Minerals Corp. (TSX-V: FPX) has closed the previously announced private placement financing with Cliffs Natural Resources Exploration Inc., the wholly owned subsidiary of Cliffs Natural Resources Inc. The private placement contains 10,198,808 shares at a price of $0.0975 per share. The private placement resulted in gross proceeds of $994,384.
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First Point Minerals Corp. (First Point) is engaged in the acquisition and exploration of property interests. The Company explores primarily for gold, silver, nickel, copper, lead and zinc. As of December 31, 2008, First Point was focused on the exploration and development of properties in North America.
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