New Issue: Prophecy Resource completes C$3.34 million private placement of units

By Devika Patel

Knoxville, Tenn., April 1 - Prophecy Resource Corp. said it settled a C$3.34 million non-brokered private placement of units. The deal priced for C$3.3 million on March 17.

The company sold 6,080,919 units at C$0.55 apiece. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.80 for two years.

The base and precious metal explorer is based in Vancouver, B.C.

Issuer:	Prophecy Resource Corp.
Issue:	Units of one common share and one half-share warrant
Amount:	C$3,344,505
Units:	6,080,919
Price:	C$0.55
Warrants:	One half-share warrant per unit
Warrant expiration:	Two years
Warrant strike price:	C$0.80
Agent:	Non-brokered
Pricing date:	March 17
Settlement date:	April 1
Stock symbol:	TSX Venture: PCY
Stock price:	C$0.69 at close March 17
Market capitalization:	C$20.6 million

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