By Devika Patel
Knoxville, Tenn., Oct. 1 - Etna Resources Inc. said it will raise C$3 million in a non-brokered private placement of units.
The company will sell 10 million units of one common share and one half-share warrant at C$0.30 apiece. Each whole warrant will be exercisable at C$0.50 for 18 months.
Settlement is expected Oct. 30.
Proceeds will be used for exploration and development of nine Lithium salar projects in Chile and for general working capital purposes.
The precious and base metals explorer is based in Vancouver, B.C.
| Issuer: | Etna Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 10 million
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 1
|
| Settlement date: | Oct. 30
|
| Stock symbol: | TSX Venture: ETN
|
| Stock price: | C$0.375 at close Sept. 30
|
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