By Susanna Moon
Chicago, June 26 - First Narrows Resources Corp. said it raised C$1,036,280 in a private placement of units.
The company issued 2,878,556 units for C$0.36 each. Units consist of one share and one half-share warrant. Warrants are exercisable at C$0.56 for two years.
The deal was slightly increased from the $1 million in 2,777,777 units announced Friday.
The placement is non-brokered.
Proceeds will be used for general corporate purposes and to fund exploration in New Brunswick, Canada and in Sonora, Mexico.
First Narrows is a mineral exploration company based in Vancouver, B.C.
Issuer First Narrows Resources Corp.
| Issue: | Units
|
| Amount: | C$1,036,280
|
| Units: | 2,878,556
|
| Price: | C$0.36
|
| Warrants: | One half-share per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.56
|
| Agent: | Non-brokered
|
| Announcement date: | June 22
|
| Stock symbol: | TSX Venture: UNO
|
| Stock price: | C$0.36 at close June 22
|
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