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Not for distribution to news wire services in the United States.
Vancouver, BC, January 19, 2010 - Logan Resources Ltd. (TSXV:LGR) ("The Company") today announced a non-brokered private placement consisting of up to 9,000,000 common shares (the "Shares") at a price of $0.05 per Share, for gross proceeds of up to $450,000 (the "Offering").
The Company may, in appropriate circumstances, pay finder's fees in connection with the Offering. The Offering is subject to TSX Venture Exchange acceptance. All securities issued pursuant to the Offering will be subject to a four-month hold period from the closing date. The proceeds from the Offering will be used for general working capital.
Logan Resources Ltd. is a mineral exploration company that specializes in acquiring, exploring and advancing Canadian mineral properties. The Company has a diversified portfolio of precious metal, base metal and uranium projects. For more information on the property portfolio and the Company, please visit www.loganresources.ca, www.sedar.com and www.sec.gov websites.
ON BEHALF OF THE BOARD
"Seamus Young"
Seamus Young
President and CEO
For Further Information Please Contact:
Seamus Young, President & CEO
syoung@loganresources.ca
T: 604-689-0299 x 223
Earl Hope, Investor Relations
ehope@loganresources.ca
T: 604-689-0299 x 232
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from registration is available.
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