Vulcan Minerals Inc. Offshore License Issued-Financing Completed

s, Newfoundland (PRWEB) January 28, 2006 St. John’ Vulcan Minerals Inc. announces that it has closed the remaining portion of the non-flow-through private placement reported on January 3, 2006. The placement consisted of 285,000 units at $ 0.35 consisting of one common share and one-half common share purchase warrant. Each whole warrant is exercisable into one common share at a price of $ 0.50 for 18 months. The agents received a 7 percent cash commission and 28,500 broker warrants, each broker warrant is exercisable into one common share at $ 0.50 for a period of 12-months. The proceeds will be used for working capital. The securities are subject to a 4-month hold period and final approval by the TSX Venture Ex

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