By Sheri Kasprzak
New York, Jan. 17 - Vena Resources Inc. said it completed an oversubscribed private placement for C$1,133,750.
The company sold 2,267,501 units at C$0.50 each.
The units include one share and one half-share warrant. The whole warrants are exercisable at C$0.75 each for one year.
The offering was completed in two tranches. In the first tranche, the company issued 1,277,501 units and in the second, it issued 990,000 units.
The deal was first announced Jan. 10 as a C$1 million offering of 2 million units under the same terms.
Proceeds will be used for exploration on the company's properties. The rest will be used for working capital.
Toronto-based Vena is a mineral exploration company.
| Issuer: | Vena Resources Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$1,133,750
|
| Units: | 2,267,501
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.75
|
| Announcement date: | Jan. 10
|
| Settlement date: | Jan. 17
|
| Stock symbol: | TSX Venture: VEM
|
| Stock price: | C$0.48 at close Jan. 10
|
| Stock price: | C$0.52 at close Jan. 17
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