By Sheri Kasprzak
Atlanta, Oct. 21 - Alberta Star completed the second tranche of its $1.83 million private placement.
In the final tranche, the company sold 3.797 million units of one share and a one-half share purchase warrant at C$0.27. The proceeds from the second tranche total C$1,025,190.
Each full warrant allows for the purchase of a share at C$0.40 for 18 months.
Pacific International Securities Inc. acted as placement agent in the deal and will receive 136,163 units at C$0.27 each. The broker also has the option to buy up to 569,550 shares at C$0.36.
Alberta Star is a Vancouver, British Columbia-based gold and uranium discovery company. It plans to use the proceeds from the financing for exploration expenditures in Canada.
| Issuer: | Alberta Star
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| Issue: | Units of one share and a half-share purchase warrant
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| Amount: | C$1.83 million
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| Shares: | One share per unit
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| Price: | C$0.27 per unit
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| Warrants: | ½ warrant for each unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.40
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| Placement agent: | Pacific International Securities Inc.
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| Settlement date: | Oct. 20
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| Stock price: | C$0.27 at close Oct. 20
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