Cartier Resources {TSX.V: ECR} have confirmed they have closed a flow through private placement  to accredited investors of $143,000.

This figure included insider participation to the tune of $15,600.

CARTIER CLOSES A PRIVATE PLACEMENT FOR A TOTAL OF $143,000

Cartier Resources Inc.{TSX.V: ECR} has closed a flow through private placement for $143,000, issuing units at 13c.

The private placement is a flow-through private placement with accredited investors and consists of 110 units for an amount of $143,000.

For the flow-through private placement, each unit, at a price of $1,300 per unit, is composed of 10,000 flow-through common shares at a price of 13 cents per share. Thus, the following securities were issued by Cartier — 1.1 million flow-through shares at a price of 13 cents per share for an amount of $143,000. Two insiders participated in this financing for a total of 120,000 shares ($15,600).

The securities issued under the private placement are subject to a four-month-and-one-day statutory hold period.

The proceeds of the placement will be used by Cartier to conduct exploration on the Benoist, Cadillac Extension and MacCormack projects.