By Devika Patel
Knoxville, Tenn., Feb. 12 - Explor Resources Inc. said it will conduct a C$1 million non-brokered private placement of units.
The company will sell 5,263,157 units at C$0.19 each. It plans to sell a combination of flow-through units and non flow-through units at that price.
Each flow-through unit consists of one flow-through share and one half-share warrant. Each non flow-through unit consists of one common share and one warrant.
Each whole warrant from either series of units will be exercisable for one non flow-through share at C$0.24 for two years.
Explor is a resource exploration company based in Rouyn-Noranda, Quebec.
| Issuer: | Explor Resources Inc.
|
| Issue: | Units of one flow-through share and one half-share warrant; units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 5,263,157
|
| Price: | C$0.19
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.24
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 12
|
| Stock symbol: | TSX Venture: EXS
|
| Stock price: | C$0.33 at close Feb. 12
|
|
|
| Flow-through units
|
| Warrants: | One half-share warrant per unit
|
|
|
| Non flow-through units
|
| Warrants: | One per unit
|
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