By Devika Patel
Knoxville, Tenn., Feb. 18 - DOT Resources Ltd. said it has arranged a private placement of units.
The company will sell 5 million units. Of the units, some will be flow-through units of one flow-through common share and a warrant at C$0.225 per unit. The remainder will be units of one common share and a warrant, which will be sold at C$0.20 per unit.
Each two-year flow-through unit warrant is exercisable at C$0.30 in the first year and at C$0.40 thereafter.
Each of the two-year unit warrants is exercisable at C$0.25.
Proceeds will be used for exploration and general working capital.
The copper explorer is based in Calgary, Alta.
| Issuer: | DOT Resources Ltd.
|
| Issue: | Flow-through units of one flow-through common share and a warrant, units of one common share and a warrant
|
| Units: | 5 million
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Pricing date: | Feb. 18
|
| Stock symbol: | TSX Venture: DOT
|
| Stock price: | C$0.175 at close Jan. 25
|
| Market capitalization: | C$9.75 million
|
|
|
| Flow-through units
|
| Price: | C$0.225
|
| Warrant strike price: | C$0.30 in the first year, C$0.40 thereafter
|
|
|
| Units
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | C$0.25
|
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