By Sheri Kasprzak
New York, Sept. 6 - Fall River Resources Ltd. said it plans to raise up to C$1.2 million in a unit offering.
The deal includes up to 8 million units at C$0.15 each.
The units are comprised of one share and one half-share warrant. The whole warrants allow for an additional share at C$0.20 each for one year.
Some of the shares associated with the warrants will be flow-through shares.
Martin Place Securities Pty. Ltd. is the placement agent.
The proceeds will be used to acquire oil and gas farm-in interests and work programs. The rest will be used for working capital.
Based in Vancouver, B.C., Fall River is an oil and natural gas exploration company.
| Issuer: | Fall River Resources Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.2 million (maximum)
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| Units: | 8 million (maximum)
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| Price: | C$0.15
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.20
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| Placement agent: | Martin Place Securities Pty. Ltd.
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| Pricing date: | Sept. 2
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| Stock price: | C$0.19 at close Sept. 2
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