By Sheri Kasprzak
New York, July 6 - Inter-Citic Minerals Inc. said it plans to raise up to C$1.75 million in a non-brokered private placement.
The offering includes up to 2,916,668 units at C$0.60 each.
The units are comprised of one share and one half-share warrant. The whole warrants allow for an additional share at C$0.80 each for 18 months.
Based in Toronto, Inter-Citic is a mineral exploration company. The proceeds will be used for exploration on the company's interests in the Dachang and Zalatun properties in China. The remainder will be used for working capital.
| Issuer: | Inter-Citic Minerals Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1.75 million (maximum)
|
| Units: | 2,916,668
|
| Price: | C$0.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.80
|
| Pricing date: | July 6
|
| Stock price: | C$0.70 at close July 6
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
