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Published on 2/13/2006 in the Prospect News PIPE Daily.

New Issue: Sutcliffe Resources wraps oversubscribed private placement for C$2.62 million

By Sheri Kasprzak

New York, Feb. 13 - Sutcliffe Resources Ltd. said it has concluded its previously announced private placement for C$2,622,675.

The company sold 4,678,500 units at C$0.55 each.

The units consist of one share and one warrant. The warrants are exercisable at C$0.75 each for two years.

The deal priced on Jan. 12 as a C$1,390,125 offering of 2,527,000 units and was upsized on Jan. 24 to C$2,535,500.

Based in Vancouver, B.C., Sutcliffe is a mineral exploration company.

Issuer:Sutcliffe Resources Ltd.
Issue:Units of one share and one warrant
Amount:C$2,622,675
Units:4,687,500
Price:C$0.55
Warrants:One warrant per unit
Warrant expiration:Two years
Warrant strike price:C$0.75
Placement agent:Non-brokered
Pricing date:Jan. 12
Upsized:Jan. 24
Settlement date:Feb. 13
Stock symbol:TSX Venture: SR
Stock price:C$0.62 at close Jan. 24
Stock price:C$0.66 at close Feb. 13

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