By Sheri Kasprzak
New York, Jan. 6 - Fortune River Resource Corp. said it has arranged a private placement for C$1 million.
The company plans to sell up to 4 million units at C$0.25 each.
The units include one share and one half-share warrant. The full warrants are exercisable at C$0.30 each for two years.
The deal is non-brokered.
Proceeds will be used for potential acquisitions, exploration and working capital.
Based in Vancouver, B.C., Fortune River is a mineral exploration company.
| Issuer: | Fortune River Resource Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1 million (maximum)
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| Units: | 4 million (maximum)
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| Price: | C$0.25
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.30
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| Placement agent: | Non-brokered
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| Pricing date: | Jan. 6
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| Stock price: | C$0.25 at close Jan. 6
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