By Devika Patel
Knoxville, Tenn., June 8 - Canfe Ventures Ltd. said it plans a C$1.2 million private placement of units.
The company will sell 8 million units at C$0.15 apiece. Each unit consists of one common share and one warrant. Each warrant will be exercisable at C$0.15 for three years.
Proceeds will be used for costs associated with the company's planned qualifying transaction, the work program recommended on the Goldridge property, maintenance of the Goldridge property and to provide general working capital.
The capital pool company is based in Vancouver, B.C.
| Issuer: | Canfe Ventures Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.2 million
|
| Units: | 8 million
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.15
|
| Pricing date: | June 8
|
| Stock symbol: | TSX Venture: FEY.P
|
| Stock price: | C$0.10 at close June 7
|
| Market capitalization: | C$526,230
|
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