New York, Oct. 13 - Farallon Resources Ltd. said it has reached agreements for a C$7.5 million private placement of units.
The company will issue 18.75 million units at C$0.40 each. The units are comprised of one share and one warrant.
The warrants allow for an additional share at C$0.60 each for two years.
Based in Vancouver, B.C., Farallon is a minerals exploration company. It plans to use the proceeds from the financing to advance work on the G-9 deposit at the company's Campo Morado polymetallic massive sulfide project in Guerrero State, Mexico.
Farallon said it has dropped a planned prospectus offering until market conditions improve.
| Issuer: | Farallon Resources Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$7.5 million
|
| Shares: | 18.75 million units
|
| Price: | C$0.40
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.60
|
| Announcement date: | Oct. 13
|
| Stock price: | C$0.44 at close Oct. 13
|
© 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.
