03:43 PM EST - Silver Bear Resources Inc. : announced the closing of its previously announced private placement of 4,375,000 common shares of Silver Bear with Tabac Ventures Limited. Tabac is a company affiliated with Aterra Capital, an investment fund established by Alexey Mordashov. The 4,375,000 Common Shares were sold to Tabac at a price of $0.80 per share for gross proceeds to the Company of $3.5 million. The Common Shares will be subject to a statutory hold period of four months and one day. Silver Bear Resources Inc.
shares T.SBR are trading down $0.06 at $0.67.
