By Sheri Kasprzak
Atlanta, May 6 - Fronteer Development Group Inc. said it plans to raise C$4,125,000 in a private placement.
The company plans to sell up to 1.5 million flow-through shares at C$2.75 each.
Pacific International Securities Inc. is the lead placement agent in the offering.
Based in Vancouver, B.C., Fronteer is a mineral exploration company. It plans to use the proceeds from the deal for Canadian exploration expenses.
| Issuer: | Fronteer Development Group Inc.
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| Issue: | Flow-through shares
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| Amount: | C$4,125,000 (maximum)
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| Shares: | 1.5 million (maximum)
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| Price: | C$2.75
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| Warrants: | No
|
| Placement agent: | Pacific International Securities Inc. (lead)
|
| Pricing date: | May 6
|
| Stock price: | C$2.41 at close May 5
|
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