By Sheri Kasprzak
New York, Aug. 19 - Crescent Resources Corp. has upsized to C$2.45 million its previously announced C$1.75 million private placement.
The offering now includes up to 7 million units at C$0.35 each.
The units are comprised of one share and one warrant. The warrants are exercisable at C$0.50 each for the first year and C$0.60 each for the second year.
The deal was first announced Aug. 11 as a C$1.75 million offering of up to 5 million units under the same terms.
Proceeds will be used to commence drilling and exploration on the company's Matupa gold project in Brazil. The remainder will be used for general corporate purposes.
Based in Vancouver, B.C., Crescent is a mineral exploration company.
| Issuer: | Crescent Resources Corp.
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| Issue: | Units of one share and one warrant
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| Amount: | C$2.45 million (maximum)
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| Units: | 7 million (maximum)
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| Price: | C$0.35
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.50 for the first year; C$0.60 for the second year
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| Pricing date: | Aug. 11
|
| Upsized: | Aug. 19
|
| Stock price: | C$0.38 at close Aug. 11
|
| Stock price: | C$0.46 at close Aug. 18
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