By Sheri Kasprzak
New York, Dec. 6 - Firestone Ventures Inc. said it has concluded its previously announced private placement for C$1,145,540.
The company issued 9,546,167 units at C$0.12 each on a non-brokered basis to John Kowalchuk and Lori Walton, among other investors.
The units are comprised of one share and one warrant. The warrants allow for the purchase of another share at C$0.16 each for two years.
The offering was first announced Oct. 31 as a C$1 million offering of up to 6,666,667 units at C$0.15 each. The price was dropped to C$0.12 and the number of units increased to 8,333,333 on Nov. 14.
Proceeds will be used for exploration on existing Canadian and international properties. The rest will be used for working capital.
Based in Edmonton, Alta., Firestone is a uranium, zinc, copper and gold exploration company.
| Issuer: | Firestone Ventures Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1,145,540
|
| Units: | 9,546,167
|
| Price: | C$0.12
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.16
|
| Placement agent: | Non-brokered
|
| Investors: | John Kowalchuk and Lori Walton, others
|
| Pricing date: | Oct. 31
|
| Amended: | Nov. 14
|
| Settlement date: | Dec. 5
|
| Stock price: | C$0.15 at close Oct. 31
|
| Stock price: | C$0.14 at close Nov. 14
|
| Stock price: | C$0.155 at close Dec. 5
|
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