By Sheri Kasprzak
New York, May 18 - Newfoundland Goldbar Resources Inc. priced a C$1 million private placement.
The non-brokered offering includes up to 20 million units of one share and one warrant.
Each warrant is exercisable at C$0.10 for one year.
Proceeds from the deal will be used for debt reduction, business opportunities and working capital.
Based in St. John's, Newfoundland, Newfoundland Goldbar is a gold exploration company.
| Issuer: | Newfoundland Goldbar Resources Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1 million
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| Units: | 20 million
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| Price: | C$0.05
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| Warrants: | One warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.10
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| Placement agent: | Non-brokered
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| Pricing date: | May 18
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| Stock symbol: | TSX Venture: NGB
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| Stock price: | C$0.06 at close May 17
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