Non-brokered offering funds exploration and general working capital
By Devika Patel
Knoxville, Tenn., Feb. 7 - ESO Uranium Corp. said it plans a C$2 million non-brokered private placement of units. The C$2 million non-brokered private placement of units announced on Dec. 6 was partially completed on Dec. 29, and the balance of that offering was canceled, the company said.
The company will sell 10 million flow-through units of one common share and one two-year warrant at C$0.10 per unit. It also will sell 10 million units of one common share and one two-year warrant at C$0.10 per unit.
Each flow-through unit warrant will be exercisable at C$0.15, a 50% premium to the Feb. 6 closing share price of C$0.10. Each unit warrant will be exercisable at C$0.12, a 20% premium to the Feb. 6 closing price.
Proceeds will be used for exploration and general working capital.
ESO is a resource exploration company based in Vancouver, B.C.
| Issuer: | ESO Uranium Corp.
|
| Issue: | Flow-through units of one flow-through common share and one warrant, units of one common share and one warrant
|
| Amount: | C$2 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 7
|
| Stock symbol: | TSX Venture: ESO
|
| Stock price: | C$0.10 at close Feb. 6
|
| Market capitalization: | C$10.7 million
|
|
|
| Flow-through units
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Warrant strike price: | C$0.15
|
|
|
| Units
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Warrant strike price: | C$0.12
|
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