Clifton Star negotiates C$5.73 million non-brokered placement of stock

Yamana Gold, Agnico Eagle Mines buy 9,545,572 shares at C$0.60 apiece

By Devika Patel

Knoxville, Tenn., March 2 – Clifton Star Resources Inc. said it has arranged two separate non-brokered private placements of stock to raise a total of C$5.73 million.

The company will sell 9,545,572 common shares at C$0.60 apiece, a 500% premium to the Feb. 27 closing share price of C$0.10.

Yamana Gold Inc. and Agnico Eagle Mines Ltd. will each buy 4,772,786 shares for C$2.86 million per investor.

The gold, silver, copper and nickel mining company is based in Vancouver, B.C.

Issuer:	Clifton Star Resources Inc.
Issue:	Common shares
Amount:	C$5,727,343
Shares:	9,545,572
Price:	C$0.60
Warrants:	No
Agent:	Non-brokered
Investors:	Yamana Gold Inc. (for C$2,863,672), Agnico Eagle Mines Ltd. (for C$2,863,672)
Pricing date:	March 2
Stock symbol:	TSX Venture: CFO
Stock price:	C$0.10 at close Feb. 27
Market capitalization:	C$6.96 million

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