Proceeds of non-brokered deal fund exploration of Haig Inlet property
By Devika Patel
Knoxville, Tenn., June 19 - Canadian Orebodies Inc. said it plans a C$5 million non-brokered private placement of units.
The company will sell units of one common share and one half-share warrant at C$0.18 per unit and flow-through units of one flow-through common share and one half-share warrant at C$0.20 per unit.
Each whole warrant will be exercisable at C$0.30 for 18 months. The strike price represents a 66.67% premium to the June 18 closing share price of C$0.18.
Proceeds will be used for exploration and advancement of the Haig Inlet property and for general working capital purposes.
Based in Timmins, Ont., Canadian Orebodies is a junior natural resource exploration and development company.
| Issuer: | Canadian Orebodies Inc.
|
| Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$5 million
|
| Price: | C$0.18 per unit and C$0.20 per flow-through unit
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Pricing date: | June 19
|
| Stock symbol: | TSX Venture: CO
|
| Stock price: | C$0.18 at close June 18
|
| Market capitalization: | C$18.91 million
|
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