By Laura Lutz
Des Moines, Nov. 28 - Probe Resources Ltd. plans to raise up to C$2 million from a private placement of units with Becher McMahon Capital Markets Inc. as agent.
Probe plans to sell up to 2,666,667 units of one share and one half-share warrant at C$0.75 per unit. Each whole warrant will be exercisable at C$0.90 for two years.
Proceeds will be used for exploration, working capital and general corporate purposes.
Becher McMahon will also have a right to act as agent for up to 30% of any other brokered financing that Probe conducts in the next year.
Probe is a Vancouver, B.C.-based mineral exploration, acquisition and development company.
| Issuer: | Probe Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 2,666,667
|
| Price: | C$0.75
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.90
|
| Agent: | Becher McMahon Capital Markets Inc.
|
| Pricing date: | Nov. 28
|
| Stock symbol: | TSX Venture: PBR
|
| Stock price: | C$0.58 at close Nov. 28
|
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