Shear Minerals Ltd. (TSX VENTURE:SRM) reported today, that on December 31, 2009 the company has closed an additional non-brokered private placement for gross proceeds of $79,999 with the sale of 1,230,769 FT units at a price of $0.065 per FT Unit for a total gross proceeds of $1,084,565. This is however, subject to final TSX Venture Exchange acceptance.

The press release is quoted as saying:

Shear is a Canadian-based exploration company focused on diamond exploration in the Canadian North, where it explores in established diamond districts and has discovered new ones. Shear currently has a portfolio of eight diamond projects, seven of which are drill-ready. Shear has advanced its flagship (62.3% ownership) Churchill Diamond Project from a conceptual idea to an expanding diamond district hosting 88 kimberlites in the Kivalliq region of Nunavut.

Click here to access the entire press release

Click here to access Shear Minerals Corporate Site

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