By Laura Lutz
Washington, Feb. 8 - Dhanoa Minerals Ltd. arranged a private placement of units for $1.3 million.
The company intends to sell 650,000 units of one share and one warrant at $2.00 per unit. Each whole warrant will be exercisable at $2.50 for 18 months.
Proceeds of the non-brokered placement will be used to advance the company's properties in Ecuador and for working capital.
Dhanoa is a natural resource exploration and development company based in Toronto.
| Issuer: | Dhanoa Minerals Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | $1.3 million
|
| Units: | 650,000
|
| Price: | $2.00
|
| Warrants: | One per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | $2.50
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 8
|
| Stock symbol: | OTCBB: DHNA
|
| Stock price: | $2.34 at close Feb. 8
|
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