Deal's proceeds to develop company's program on fluorspar property
By Devika Patel
Knoxville, Tenn., Nov. 8 - Canada Fluorspar Inc. announced it completed a private placement of units.
The company sold 1,944,444 units of one flow-through common share and one half-share warrant at C$0.72 per unit for C$1.4 million. Each whole one-year warrant will be exercisable at C$0.80, a 15.94% premium to the Nov. 5 closing share price of C$0.69.
Proceeds will be used for development of the company's program on its fluorspar property at St. Lawrence, Newfoundland and Labrador.
Canada Fluorspar is a junior mineral resource company based in Toronto.
| Issuer: | Canada Fluorspar Inc.
|
| Issue: | Units of one flow-through common share and a half-share warrant
|
| Amount: | C$1.4 million
|
| Units: | 1,944,444
|
| Price: | C$0.72
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.80
|
| Settlement date: | Nov. 8
|
| Stock symbol: | TSX Venture: CFI
|
| Stock price: | C$0.69 at close Nov. 5
|
| Market capitalization: | C$46.91 million
|
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