Non-brokered financing funds exploration and working capital purposes
By Devika Patel
Knoxville, Tenn., March 30 - Inform Resources Corp. said it plans a C$3.5 million non-brokered private placement of units.
The company will sell 3,333,333 units of one common share and one half-share warrant at C$0.30 per unit and 7,142,857 flow-through units of one flow-through common share and one half-share warrant at C$0.35 per unit.
Each whole warrant is exercisable at C$0.50 for 18 months. The strike price is an 85.19% premium to the March 29 closing share price of C$0.27.
Proceeds will be used for exploration and general working capital purposes.
Based in Vancouver, B.C., Inform Resources is a gold and base metal explorer.
| Issuer: | Inform Resources Corp.
|
| Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$3.5 million
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | March 30
|
| Stock symbol: | TSX Venture: IRR
|
| Stock price: | C$0.27 at close March 29
|
| Market capitalization: | C$7.17 million
|
|
|
| Units
|
| Amount: | C$1 million
|
| Units: | 3,333,333
|
| Price: | C$0.30
|
|
|
| Flow-through units
|
| Amount: | C$2.5 million
|
| Units: | 7,142,857
|
| Price: | C$0.35
|
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