By Sheri Kasprzak
New York, July 28 - Great Western Minerals Group Ltd. said it plans to raise up to C$1.5 million in a private placement.
The offering includes up to 1.5 million units at C$1.00 each.
The units are comprised of one flow-through share, one non flow-through share and one half-share warrant. The whole warrants allow for an additional non flow-through share at C$0.70 each for 18 months.
Union Securities Ltd. is the placement agent.
Proceeds will be used for exploration and development of properties in Saskatchewan and the United States.
Based in Cardinal Crescent, Saskatchewan, Great Western is a mineral exploration company.
| Issuer: | Great Western Minerals Group Ltd.
|
| Issue: | Units of one flow-through share, one non flow-through share and one half-share warrant
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| Amount: | C$1.5 million
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| Units: | 1.5 million
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| Price: | C$1.00
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.70
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| Placement agent: | Union Securities Ltd.
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| Pricing date: | July 28
|
| Stock price: | C$0.55 at close July 27
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