By Sheri Kasprzak
New York, May 3 - Firestone Ventures Inc. has settled an oversubscribed private placement for C$4,183,332.
The company issued 6,972,220 units of one share and one half-share warrant at C$0.60 each.
The full warrants allow for the purchase of another share at C$0.75 each through Oct. 25, 2007.
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.
The offering was not brokered.
The deal priced April 29 as a C$2.5 million offering of 4,166,667 units.
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
|
| Amount: | C$4,183,332
|
| Units: | 6,972,220
|
| Price: | C$0.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Oct. 25, 2007
|
| Warrant strike price: | C$0.75
|
| Placement agent: | Non-brokered
|
| Pricing date: | April 18
|
| Settlement date: | May 2
|
| Stock symbol: | TSX Venture: FV
|
| Stock price: | C$0.66 at close April 18
|
| Stock price: | C$0.68 at close May 2
|
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