By Sheri Kasprzak
Atlanta, Dec. 10 - Rampart Ventures Ltd. said late Thursday it has raised C$1.4 million in a private placement.
The company sold 7 million units at C$0.20 each. The units are comprised of one share and one warrant.
The warrants allow for an additional share at C$0.35 for one year.
About 1 million of the units are flow-through common shares and warrants and are subject to a four-month hold, which expires April 10, 2005.
Based in Vancouver, B.C., Rampart Ventures is a uranium exploration company. The company plans to use the proceeds from the flow-through shares for exploration work. The remaining proceeds will be used for general exploration expenses on its uranium property interests in Ontario and for general working capital.
| Issuer: | Rampart Ventures Ltd.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1.4 million
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| Shares: | 7 million units
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| Price: | C$0.20
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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$0.35
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| Settlement date: | Dec. 9
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| Stock price: | C$0.34 at close Dec. 9
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