Non-brokered deal funds exploration and development of Wabassi project
By Devika Patel
Knoxville, Tenn., Aug. 22 - Discovery Harbour Resources Corp. said it will conduct a C$1.2 million non-brokered private placement of units.
The company will sell 12 million units of one common share and one warrant at C$0.10 per unit. The warrants are each exercisable at C$0.20 for two years. The strike price reflects a 185.72% premium to the Aug. 21 closing share price of C$0.07.
Proceeds will be used for exploration and development of the Wabassi project and general working capital purposes.
The Vancouver, B.C., company explores for copper, zinc, gold, silver, nickel and platinum.
| Issuer: | Discovery Harbour Resources Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.2 million
|
| Units: | 12 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 22
|
| Stock symbol: | TSX Venture: DHR
|
| Stock price: | C$0.07 at close Aug. 21
|
| Market capitalization: | C$2.15 million
|
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