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 ^[1]

Click here to access Shear Minerals Corporate Site ^[2]