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LAC SEUL FIRST NATION, ONTARIO and TORONTO, ONTARIO--(Marketwire - March 16, 2011) - Lac Seul First Nation ("LSFN") is pleased to announce that LSFN has purchased 2,702,704 units of AurCrest Gold Inc. ("AurCrest") (TSX VENTURE:AGO) at the price of $0.185 per unit to a prospectus-exempt private placement. Each unit of AurCrest is comprised of one (1) common share of AurCrest and one-half (1/2) common share purchase warrant, each one (1) whole such warrant exercisable to purchase one common share of AurCrest Gold Inc. at the price of $0.30 per share for a period of twelve (12) months. Following the transaction Lac Seul First Nation held 2,702,704 common shares, comprising approximately 9.4% of the outstanding common shares of AurCrest and 1,351,352 common share purchase warrants of AurCrest. If LSFN exercised all 1,351,352 of its common share purchase warrants it would hold an aggregate of 4,054,056 common shares, comprising a |
