By Laura Lutz
Washington, Dec. 14 - Dhanoa Minerals Ltd. negotiated a private placement of shares for C$2.3 million.
The company plans to sell 836,363 units of one share and one half-share warrant at C$2.75 per unit. Each whole warrant will be exercisable at C$2.85 for 18 months.
Proceeds from the non-brokered deal will be used to finance the company's planned acquisition in Ecuador and for working capital.
Dhanoa is a Toronto-based resource exploration and development company.
| Issuer: | Dhanoa Minerals Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2.3 million
|
| Units: | 836,363
|
| Price: | C$2.75
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$2.85
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 14
|
| Stock symbol: | OTCBB: DHNA
|
| Stock price: | $3.3791 at close Dec. 14
|
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