Non-brokered deal will finance exploration and general working capital
By Devika Patel
Knoxville, Tenn., March 29 - Toro Resources Corp. said it plans a C$2 million non-brokered private placement of units.
The company will sell 11,764,706 units of one common share and one half-share warrant at C$0.17 per unit.
Each whole warrant will be exercisable at C$0.25 for 18 months. The strike price is an 8.7% premium to C$0.23, the March 28 closing share price.
Proceeds will be used for exploration work on the Morgan Peak Copper Project and general working capital purposes.
Toro is a Vancouver, B.C.-based copper explorer.
| Issuer: | Toro Resources Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 11,764,706
|
| Price: | C$0.17
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | March 29
|
| Stock symbol: | TSX Venture: TRK
|
| Stock price: | C$0.23 at close March 28
|
| Market capitalization: | C$5.39 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
