By Laura Lutz
Des Moines, May 1 - Network Exploration Ltd. arranged a private placement of units for up to C$1 million.
The company plans to sell up to 5 million units of one share and one warrant at C$0.20 per unit. Each whole warrant will be exercisable at C$0.25 for one year.
The company said it would use the proceeds for drilling and to meet the requirements for graduation to Tier 2 on the TSX Venture Exchange.
Network is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Network Exploration Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1 million
|
| Units: | 5 million
|
| Price: | C$0.20
|
| Warrants: | One per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.25
|
| Pricing date: | May 1
|
| Stock symbol: | TSX Venture: NET.H
|
| Stock price: | C$0.245 at close April 30
|
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