By Sheri Kasprzak
Atlanta, Dec. 8 - Farallon Resources Ltd. said Wednesday it plans to raise C$20 million in a private placement of units.
The company will issue 24,390,244 units at C$0.82 each. The units are comprised of one share and one warrant.
The warrants allow for an additional share at C$1.02 each for two years.
Based in Vancouver, B.C., Farallon is a minerals exploration company. It plans to use the proceeds from the financing for its Campo Morado polymetallic project in Mexico. The funds will be used for exploration drilling programs, engineering studies and metallurgical tests in 2005, and the remaining funds will be used for general working capital.
| Issuer: | Farallon Resources Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$20 million
|
| Shares: | 24,390,244 units
|
| Price: | C$0.82
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.02
|
| Announcement date: | Dec. 8
|
| Stock price: | C$0.83 at close Dec. 7
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
