By Laura Lutz
Des Moines, April 18 - La Quinta Resources Corp. negotiated a C$2.25 million private placement of units.
The company plans to sell 4.5 million units of one share and one half-share warrant at C$0.50 per unit. Each whole warrant will be exercisable at C$0.70 for one year.
The deal will be non-brokered.
Proceeds will be used for exploration and working capital.
La Quinta is a precious metals company based in Vancouver, B.C.
| Issuer: | La Quinta Resources Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2.25 million
|
| Units: | 4.5 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.70
|
| Agent: | Non-brokered
|
| Pricing date: | April 18
|
| Stock symbol: | TSX Venture: LAQ
|
| Stock price: | C$0.59 at close April 17
|
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