Non-brokered deal funds exploration of properties, corporate purposes
By Devika Patel
Knoxville, Tenn., July 24 – Declan Resources Inc. said it concluded a C$2 million non-brokered private placement of units.
The company sold 28,571,445 units of one common share and one warrant at C$0.07 per unit. Each warrant will be exercisable at C$0.11 for two years. The strike price is a 42.86% premium to the July 23 closing share price of C$0.07.
Proceeds will be used for exploration of the Athabasca Basin uranium exploration properties and for general corporate purposes.
The natural resource company is based in Vancouver, B.C.
| Issuer: | Declan Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2 million
|
| Units: | 28,571,445
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| Price: | C$0.07
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.11
|
| Agent: | Non-brokered
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| Settlement date: | July 24
|
| Stock symbol: | TSX Venture: LAN
|
| Stock price: | C$0.07 at close July 23
|
| Market capitalization: | C$8.92 million
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