By Sheri Kasprzak
Atlanta, April 18 - Tone Resources Ltd. said it has arranged a brokered private placement for up to C$2 million and a non-brokered offering for C$90,202.
The brokered offering includes up to 5 million units at C$0.40 each.
The units are comprised of one share and one half-share warrant. The full warrants provide for an additional share at C$0.60 each for one year and C$0.80 each for six months.
Union Securities Ltd. is the placement agent.
In the non-brokered offering, the company plans to sell 225,501 units at C$0.40 each for C$90,202 under the same terms as the brokered deal.
Based in Vancouver, B.C., Tone is a gold exploration company. The proceeds from the brokered offering will be used for drilling at the Gold Bar North, South Keystone, Roberts Creek, Kobeh and Red Ridge projects and for working capital. The proceeds from the non-brokered deal will be used for working capital.
| Issuer: | Tone Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2 million (maximum)
|
| Units: | 5 million (maximum)
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.60 for one year; C$0.80 for six months
|
| Placement agent: | Union Securities Ltd.
|
| Pricing date: | April 18
|
| Stock price: | C$0.35 at close April 15 (last trade)
|
|
|
| Issuer: | Tone Resources Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$90,202
|
| Units: | 225,501
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.60 for one year; C$0.80 for six months
|
| Pricing date: | April 18
|
| Stock price: | C$0.35 at close April 15 (last trade)
|
|
|
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