By Devika Patel
Knoxville, Tenn., Feb. 11 - Arco Resources Corp. said it plans a C$1.5 million non-brokered private placement of units.
The company will sell 30 million units at C$0.05 apiece. Each unit consists of one common share and one warrant, with each two-year warrant exercisable at C$0.10.
Proceeds will be used for exploration and general working capital.
Arco Resources is a junior natural resource company based in Vancouver, B.C.
| Issuer: | Arco Resources Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Units: | 30 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 11
|
| Stock symbol: | TSX Venture: ARR
|
| Stock price: | C$0.05 at close Feb. 10
|
| Market capitalization: | C$1.71 million
|
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