Company offers common shares and two-year warrants at C$0.40 per unit
By Devika Patel
Knoxville, Tenn., Aug. 25 - Explor Resources Inc. said it will conduct a C$10 million private placement of units.
The company will sell 25 million units of one common share and one warrant at C$0.40 per unit.
Each two-year warrant is exercisable at 150% of the 30-day volume-weighted average closing price for the 30 trading days preceding the settlement date.
Explor is a gold and base metals exploration company based in Rouyn-Noranda, Quebec.
Issuer: | Explor Resources Inc.
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Issue: | Units of one common share and one warrant
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Amount: | C$10 million
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Units: | 25 million
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Price: | C$0.40
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Pricing date: | Aug. 25
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Stock symbol: | TSX Venture: EXS
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Stock price: | C$0.37 at close Aug. 24
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Market capitalization: | C$38.73 million
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