January 22, 2010
Spider Resources Inc. (TSXV:SPQ) completed a private placement of flow-through units and units for aggregate gross proceeds of approximately $4 million. The gross proceeds of the offering will be used for exploration and development of Spider's “Big Daddy” chromite property, located within the Ring of Fire exploration area in the James Bay Lowlands, Northern Ontario. Sandfire Securities Inc. acted as the agent in respect of the offering.
Wildeboer Dellelce LLP acted for Sandfire in connection with the offering with a team that included Robert Fonn and Zahar Orlov (corporate/securities) and Kevin Fritz (tax).