Offering's proceeds used for exploration and general working capital
By Devika Patel
Knoxville, Tenn., Dec. 21 - Firestone Ventures Inc. said it raised C$517,000 in the initial tranche of a C$1 million non-brokered private placement of units. The deal priced Nov. 29.
The company is selling 20 million units of one common share and one warrant at C$0.05 per unit. It sold 10.34 million units in the first tranche.
Each one-year warrant will be exercisable at C$0.10, a 66.67% premium to the Nov. 28 closing share price of C$0.06.
Proceeds will be used for exploration and 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 warrant
|
| Amount: | C$1 million
|
| Units: | 20 million (10.34 million in first tranche)
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 21 (for C$517,000)
|
| Stock symbol: | TSX Venture: FV
|
| Stock price: | C$0.06 at close Nov. 28
|
| Market capitalization: | C$5.58 million
|
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