Deal funds exploration at San Lucas, acquisitions and working capital
By Devika Patel
Knoxville, Tenn., Nov. 29 - Quia Resources Inc. said it plans a C$3 million non-brokered private placement of units.
The company will sell 15 million units of one common share and one half-share warrant at C$0.20 per unit.
Each whole warrant will be exercisable at C$0.30 for two years. The strike price reflects an 87.5% premium to the Nov. 28 closing share price of C$0.16.
Proceeds will be used for exploration at the San Lucas property, acquisitions and general working capital purposes.
The gold explorer is based in Toronto.
| Issuer: | Quia Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 15 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Settlement date: | Nov. 29
|
| Stock symbol: | TSX Venture: QIA
|
| Stock price: | C$0.16 at close Nov. 28
|
| Market capitalization: | C$9.95 million
|
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