By Sheri Kasprzak
Atlanta, Nov. 29 - Dianor Resources Inc. said Thursday it plans to raise C$1.2 million through a private placement.
The offering consists of 9,230,769 units at C$0.13 each. The units are comprised of one share and one warrant.
The warrants allow for an additional share at C$0.19 for one year.
The units are being offered to accredited investors in Ontario.
Dianor is a diamond exploration company based in Val D'Or, Quebec. The company plans to use the proceeds from the financing for mining exploration, working capital and general corporate purposes and acquisition of mining claims in northern Ontario.
| Issuer: | Dianor Resources Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1.2 million
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| Shares: | 9,230,769 units
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| Price: | C$0.13
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| Warrants: | One warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.19
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| Announcement date: | Nov. 25
|
| Stock price: | C$0.13 at close Nov. 25
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