By Sheri Kasprzak
Atlanta, Jan. 11 - Champion Bear Resources Ltd. closed a previously announced private placement for C$640,000 - falling short of its C$1.5 million goal.
The company sold 800,000 flow-through shares at C$0.80 each.
MineralFields Group bought 625,000 of the shares in the offering for a C$500,000 investment.
On Dec. 16, the company announced its plans to sell 1,875,000 flow-through shares, under the same terms, for C$1.5 million.
Champion Bear, based in Calgary, Alta., is a mineral exploration company. It plans to use the proceeds from the deal for its exploration programs on its Plomp Farm gold property and its Iron Mask property in Sudbury, Ont.
| Issuer: | Champion Bear Resources Ltd.
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| Issue: | Stock
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| Amount: | C$640,000
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| Shares: | 800,000
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| Price: | C$0.80
|
| Warrants: | No
|
| Announcement date: | Dec. 16
|
| Stock price: | C$0.56 at close Dec. 16
|
| Stock price: | C$0.54 at close Jan. 10
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