Published on 4/22/2008 in the Prospect News PIPE Daily.
New Issue: Fortune River wraps C$2.1 million private placements of units
By Devika Patel
Knoxville, Tenn., April 22 - Fortune River Resource Corp. said it raised C$2.1 million in a non-brokered private placement of units.
The company sold 6,018,000 units at C$0.35 apiece. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.40 for two years.
Proceeds will be used for working capital and drilling programs.
Based in Vancouver, B.C., Fortune River is a gold exploration company.
| Issuer: | Fortune River Resource Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2,106,300
|
| Units: | 6,018,000
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Settlement date: | April 22
|
| Stock symbol: | TSX Venture: FRX
|
| Stock price: | C$0.38 at close April 21
|
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