Company sells 16 million units at C$0.10 per unit in non-brokered deal
By Devika Patel
Knoxville, Tenn., Feb. 19 - Explor Resources Inc. said it settled a C$1.6 million non-brokered private placement of units.
The company sold 16 million units of one common share and three-quarters of a warrant at C$0.10 per unit.
Each whole warrant is exercisable at C$0.15 for three years. The strike price represents a 50% premium to C$0.10, the Feb. 15 closing share price.
Explor is a gold and base metals exploration company based in Rouyn-Noranda, Quebec.
| Issuer: | Explor Resources Inc.
|
| Issue: | Units of one common share and three-quarters of a warrant
|
| Amount: | C$1.6 million
|
| Units: | 16 million
|
| Price: | C$0.10
|
| Warrants: | Three-quarters of a warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Settlement date: | Feb. 19
|
| Stock symbol: | TSX Venture: EXS
|
| Stock price: | C$0.10 at close Feb. 15
|
| Market capitalization: | C$17.3 million
|
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