Deal's proceeds will fund drill program on the Richmond Basin Property
By Devika Patel
Knoxville, Tenn., Jan. 26 - Trueclaim Exploration Inc. said it will conduct a C$1.36 million non-brokered private placement of units.
The company will sell 17 million units of one common share and one half-share warrant at C$0.08 per unit. Each whole two-year warrant will be exercisable at C$0.10. The strike price is an 11.11% premium to the Jan. 25 closing share price of C$0.09.
Proceeds will be used for a drill program on the Richmond Basin Property and general working capital purposes.
Based in St. Thomas, Ont., Trueclaim is a precious and base metals mining company.
| Issuer: | Trueclaim Exploration Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.36 million
|
| Units: | 17 million
|
| Price: | C$0.08
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 26
|
| Stock symbol: | TSX Venture: TRM
|
| Stock price: | C$0.09 at close Jan. 26
|
| Market capitalization: | C$7.08 million
|
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