Non-brokered deal sells 6,666,666 company shares at C$0.15 per share
By Devika Patel
Knoxville, Tenn., Dec. 18 - Explor Resources Inc. said it completed a C$1 million non-brokered private placement of stock.
The company sold 6,666,666 flow-through common shares at C$0.15 each. The price per share is a 36.36% premium to C$0.11, the Dec. 17 closing share price.
Each share was sold with one half-share warrant. The whole, two-year warrants are each exercisable at C$0.23, a 109.09% premium to the Dec. 17 closing price.
Explor is a gold and base metals exploration company based in Rouyn-Noranda, Quebec.
| Issuer: | Explor Resources Inc.
|
| Issue: | Flow-through common stock
|
| Amount: | C$1 million
|
| Shares: | 6,666,666
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per share
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.23
|
| Agent: | Non-brokered
|
| Settlement date: | Dec. 18
|
| Stock symbol: | TSX Venture: EXS
|
| Stock price: | C$0.11 at close Dec. 17
|
| Market capitalization: | C$14.15 million
|
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