By Devika Patel
Knoxville, Tenn., Feb. 25 - Canada Fluorspar Inc. said it has arranged a C$1.2 million non-brokered private placement of stock.
The company will sell flow-through common shares at C$0.48 each. It also will sell common shares at C$0.40 per share. Insiders may buy up to 25% of the shares.
Settlement is expected March 5.
Proceeds will be used as working capital to fund the work program on the company's fluorspar property at St. Lawrence, Newfoundland and Labrador.
The junior mineral resource company is based in Toronto.
| Issuer: | Canada Fluorspar Inc.
|
| Issue: | Flow-through common shares, common shares
|
| Amount: | C$1.2 million
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 25
|
| Settlement date: | March 5
|
| Stock symbol: | TSX Venture: CFI
|
| Stock price: | C$0.395 at close Feb. 24
|
| Market capitalization: | C$22.9 million
|
|
|
| Flow-through shares
|
| Price: | C$0.48
|
|
|
| Shares
|
| Price: | C$0.40
|
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