By Devika Patel
Knoxville, Tenn., Sept. 17 - Lara Exploration Ltd. announced that it plans a non-brokered private placement of units to raise C$1.28 million.
The company will sell 1,500,000 units at C$0.85 apiece to Global NR Holding SA, a Luxembourg-based holding company. Each unit will consist of one share and one non-transferable warrant. Each warrant is exercisable at C$1.20 for two years.
The warrants may expire sooner if Lara's share price closes higher than C$1.70 for 20 or more consecutive days. In that case, the warrants will expire 20 business days after Lara notifies holders.
The company will pay a 6.5% finder's fee in units.
The shares will have a four-month hold period.
Proceeds will be used to fund Lara's projects in Brazil and Peru and for general working capital and corporate purposes.
Based in Vancouver, B.C., Lara is a gold exploration company.
Issuer: | Lara Exploration Ltd.
|
Issue: | Units of one share and one non-transferable warrant
|
Amount: | C$1,275,000
|
Units: | 1,500,000
|
Price: | C$0.85
|
Warrants: | One per unit
|
Warrant expiration: | Two years
|
Warrant strike price: | C$1.20
|
Agent: | Non-brokered
|
Investor: | Global NR Holding SA
|
Pricing date: | Sept. 17
|
Stock symbol: | TSX Venture: LRA
|
Stock price: | C$0.94 at close Sept. 14
|
© 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.