Selwyn Resources Ltd. (TSX-V: SWN) has closed its offering of securities. The company issued 896,300 shares resulting in gross proceeds of $246,482 to a single place, Resource Capital Fund IV LP. Each share was sold at a price of $0.275 per share. The securities have a hold period which expires on May 13,2010.
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Selwyn also recently announced a $100 million investment by Yunnan Chihong Zinc and Germanium Co. Ltd. to acquire a 50% joint venture (JV) interest. The JV transaction with Chihong is predicted to close in May 2010. Selwyn will continue to advance the Selwyn Project towards bankable feasibility and securing new licenses required for mine development.
Selwyn Resources Ltd. is a Canada-based company engaged in the acquisition and exploration of property interests. The Company's principal property is the Selwyn project, which is located in the Howard’s Pass District in eastern Yukon.
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