By Sheri Kasprzak
New York, April 19 - Firestone Ventures Inc. has priced a C$2.5 million private placement.
The non-brokered deal includes up to 4,166,667 units at C$0.60 each.
The units consist of one share and one half-share warrant with each whole warrant exercisable at C$0.75 for 18 months.
The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$1.25 for more than 20 consecutive trading days.
Proceeds will be used for exploration on the company's Canadian properties as well as 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 half-share warrant
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| Amount: | C$2.5 million
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| Units: | 4,166,667
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| Price: | C$0.60
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | 18 months
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| Warrant strike price: | C$0.75
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| Placement agent: | Non-brokered
|
| Pricing date: | April 18
|
| Stock symbol: | TSX Venture: FV
|
| Stock price: | C$0.66 at close April 18
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