Canadian Spirit Resources Inc. announces public offering

Canadian Spirit Resources Inc. (SPI) announced today that they have filed a short form prospectus for a public offering at $1.70 per share. This offering does not include warrants and is incentivized by an approximate 5% discount to the current share price. This offering appears to show the company's confidence by the fact that they are not offering warrants. If the company can indeed sell this offering at this price, we may have seen a share price bottom and can expect future upside potential.