Proceeds used for exploration in Nevada and Guatemala, working capital
By Devika Patel
Knoxville, Tenn., Dec. 20 - Firestone Ventures Inc. announced it will sell 10 million units in a private placement. It hopes to raise C$1 million.
The company will sell the units of one common share and one half-share warrant at C$0.10 apiece. Each whole two-year warrant will be exercisable at C$0.15, a 36.36% premium to the Dec. 17 closing share price of C$0.11.
Proceeds will be used for exploration in Nevada and Guatemala and for general working capital.
Firestone is a resource exploration and development company based in Edmonton, Alta.
| Issuer: | Firestone Ventures Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.15
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| Pricing date: | Dec. 20
|
| Stock symbol: | TSX Venture: FV
|
| Stock price: | C$0.10 at close Dec. 20
|
| Market capitalization: | C$9.67 million
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