Claim Post arranges $1.16-million private placement

May 29, 2014

CLAIM POST RESOURCES INC. ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Claim Post Resources Inc. intends to complete a new non-brokered private placement offering of up to a total of 12 million common share units and up to a total of two million flow-through common shares. The units will be offered at a price of eight cents per unit, with each unit consisting of one common share of the company and one-half of a warrant. Each warrant is exercisable for one common share in the capital of the company at a price of 12 cents for a six-month period. The company also seeks to place up to two million flow-through shares at a price of 10 cents per share with no warrant attached. The aggregate gross proceeds of the offering are up to $1.16-million.

The proceeds received from the offering will be used to make the $350,000 Gossan Resources payment, to carry out a minimum 1,000-metre drilling program toward increasing the 25-million-tonne resource estimation of the Seymourville frac sand project in accordance with NI 43-101 rules (see the April 29, 2014, press release filed on SEDAR), to complete a scoping study on the project (preliminary economic assessment) which will give Claim Post the ability to release project economics and test market frac sand prior to year-end, and for general working capital purposes.

All securities issued will be subject to a four-month hold period from the date of closing. The offering is subject to the approval of the TSX Venture Exchange. At closing of the offering, finders’ fees of 7 per cent of the proceeds may be payable in cash, and finder warrants equal to 7 per cent of the number of securities issued that are exercisable at the price of 12 cents per share and expire six months from the date of closing of the offering may be payable.

Charles Gryba, chief executive officer of Claim Post Resources, stated: “This financing is at a 60-per-cent higher price than the financings earlier in 2014 and will allow us more financial flexibility to move the frac sand project forward. Claim Post board members and major shareholders are subscribing for at least 60 per cent of the offering.”

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