Consolidated Beacon closes $113,000 private placement

2008-12-31 14:28 ET - News Release

Mr. Archie Boyce reports

CONSOLIDATED BEACON RESOURCES LTD. CLOSES PRIVATE PLACEMENT

Consolidated Beacon Resources Ltd. has closed the non-brokered private placement announced in Stockwatch on June 13 and Dec. 3, 2008. The company raised $113,000 by way of a non-brokered private placement at a price of 2.5 cents.

A total of 4.52 million units were issued as non-flow-through units, consisting of one common share and one non-transferable share purchase warrant. One warrant will entitle the holder to purchase one additional common share of the company at a price of five cents per share for the first year and 10 cents until expiration the following year.

Shares, warrants and any shares issued upon exercise of the warrants are subject to a hold period of four months expiring April 25, 2009.

Number of placees: 19 placees

      INSIDER/PRO GROUP 
        PARTICIPATION

                       No. of shares

Archie Boyce Y         200,000
Tracy Dawson Y         200,000
Charles Desjardins Y   720,000

Notes:
Insider is denoted by Y. 
Name progroup is denoted by P.

Finder's fees:

• $2,750 and 110,000 finder's warrants payable to Bolder Investment Partners;
• $250 and 10,000 finder's warrants payable to Research Capital Corp.;
• $250 and 10,000 finder's warrants payable to Union Securities Ltd.

Each finder's warrant is exercisable for one common share at a price of five cents for a one-year period, or at 10 cents in the second year.

The proceeds of the private placement will be used for exploration of the company's mineral properties and general working capital.

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