By Devika Patel
Knoxville, Tenn., April 12 - Excalibur Resources Ltd. said it plans a C$1 million non-brokered private placement of units.
The company will sell flow-through units of one common share and one warrant at C$0.175 per unit. It also will sell units of one common share and one warrant at C$0.15 per unit.
Each whole two-year warrant will be exercisable at C$0.25 in the first year and at C$0.30 thereafter.
Proceeds will be used for exploration and general working capital.
The mining company is based in Vancouver, B.C.
| Issuer: | Excalibur Resources Ltd.
|
| Issue: | Flow-through units of one flow-through common share and one warrant, units of one common share and one warrant
|
| Amount: | C$1 million
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25 in the first year, C$0.30 thereafter
|
| Agent: | Non-brokered
|
| Pricing date: | April 12
|
| Stock symbol: | CNSX: XBR
|
| Stock price: | C$0.185 at close April 12
|
|
|
| Flow-through units
|
| Price: | C$0.175
|
|
|
| Units
|
| Price: | C$0.15
|
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