By Sheri Kasprzak
New York, May 17 - Adroit Resources Inc. pocketed another C$60,000 from its previously announced private placement, bringing the total proceeds to C$1,819,500.
The company sold a total of 6,065,000 units at C$0.30 each, including 200,000 units purchased by an overseas subscriber.
This subscription was not listed when the deal closed on May 2.
The units consist of one share and one warrant. Each warrant is exercisable at C$0.50 for the first year and at C$0.60 for the second year.
Proceeds will be used for the development of the company's mineral properties, particularly those in Italy, as well as for working capital.
Vancouver, B.C.-based Adroit is a mineral exploration company focused on diamond, precious and base metals.
| Issuer: | Adroit Resources Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1,819,500
|
| Units: | 6,065,000
|
| Price: | C$0.30
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50 for the first year; C$0.60 for the second year
|
| Settlement date: | May 16
|
| Stock symbol: | TSX Venture: ADT
|
| Stock price: | C$0.35 at close May 16
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