By Devika Patel
Knoxville, Tenn., Sept. 18 - First Narrows Resources Corp. announced it has arranged a non-brokered private placement of units for up to C$2 million.
The company will sell up to 4,444,444 units of one common share and one warrant, priced at C$0.45 each. Each warrant is exercisable at C$0.70 for two years.
Proceeds will be used for exploration and for general corporate purposes.
First Narrows Resources is a Vancouver, B.C.-based mineral exploration company.
| Issuer: | First Narrows Resources Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2 million (maximum)
|
| Units: | 4,444,444 (maximum)
|
| Price: | C$0.45
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.70
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 18
|
| Stock symbol: | TSX Venture: UNO
|
| Stock price: | C$0.50 at close Sept. 18
|
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