By Laura Lutz
Des Moines, May 17 - ICS Copper Systems Ltd. arranged a private placement of units for up to C$1 million.
The company plans to sell 1 million units of one share and one half-share warrant at C$1.00 per unit. Each whole warrant will be exercisable at C$1.50 for two years.
Canaccord Capital Corp. will act as agent.
Proceeds will be used to advance the company's Mokambo project in Zambia and for general corporate purposes.
Settlement is expected on May 31.
ICS is a mining company based in Abbotsford, B.C.
| Issuer: | ICS Copper Systems Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1 million
|
| Units: | 1 million
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.50
|
| Agent: | Canaccord Capital Corp.
|
| Pricing date: | May 17
|
| Settlement date: | May 31
|
| Stock symbol: | TSX Venture: ICX
|
| Stock price: | C$1.12 at close May 17
|
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