By Sheri Kasprzak
New York, Aug. 22 - Halo Resources Ltd. has arranged a private placement for up to C$3.18 million.
The non-brokered offering includes up to 2.5 million units at C$0.60 each and up to 2.4 million flow-through shares at C$0.70 each.
The units are comprised of one share and one warrant. The warrants are exercisable at C$0.70 each for two years.
Proceeds will be used for exploration on the company's Canadian mining properties and for general corporate purposes.
Based in Vancouver, B.C., Halo is a mineral exploration and acquisition company.
| Issuer: | Halo Resources Ltd.
|
| Issue: | Units and flow-through shares
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| Amount: | C$3.18 million (maximum)
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| Pricing date: | Aug. 22
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| Stock price: | C$0.68 at close Aug. 22
|
|
|
| Units
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| Issue: | Units of one share and one warrant
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| Units: | 2.5 million (maximum)
|
| Price: | C$0.60
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.70
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| Flow-through shares
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| Issue: | Flow-through common shares
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| Shares: | 2.4 million (maximum)
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| Price: | C$0.70
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| Warrants: | No
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