Search Minerals Inc.

12:03 PM EST - Search Minerals Inc. : Announced financings of up to $600,000 by way of a private placement of flow-through and non-flow through securities. A private placement of up to 6,000,000 non-flow-through units at $0.05 per non-flow-through unit (each non-flow-through unit comprised of a Common Share and a warrant to acquire a Common Share for a period of 24 months at an exercise price of $0.06) and up to 6,000,000 of flow-through units at $0.05 per flow-through unit (each flow-through unit comprised of a flow-through Common Share and one-half of one common share purchase warrant, with each whole common share purchase warrant entitling the holder to purchase an additional common share at a price of $0.06 for a period of 24 months from the closing of the Offering. Search Minerals Inc. shares V.SMY are trading up $0.005 at $0.04.