By Laura Lutz
Washington, Feb. 13 - Canasil Resources Inc. priced a private placement of units for C$1.5 million.
The company sold 3.75 million units of one share and one half-share warrant at C$0.40 per unit. Each whole warrant will be exercisable at C$0.55 for one year.
Expiry of the warrants may be accelerated to 30 days if the closing price of the company's shares exceeds C$1.00 for 10 consecutive days at any time more than six months after closing of the placement.
Proceeds will be used for exploration on the company's projects and for working capital.
The deal will be non-brokered.
Canasil is a Vancouver, B.C.-based mineral exploration company.
| Issuer: | Canasil Resources Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 3.75 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.55
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 13
|
| Stock symbol: | TSX Venture: CLZ
|
| Stock price: | C$0.415 at close Feb. 13
|
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