By Devika Patel
Knoxville, Tenn., May 8 - Altai Resources Inc. said it took in C$1.9 million from a non-brokered private placements of units.
The company sold 2 million units at C$0.95 per unit. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$1.25 for one year.
Proceeds will be used for exploration and general corporate and working capital purposes.
Altai Resources is a natural resource exploration company based in Toronto.
| Issuer: | Altai Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.9 million
|
| Units: | 2 million
|
| Price: | C$0.95
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.25
|
| Agent: | Non-brokered
|
| Settlement date: | May 8
|
| Stock symbol: | TSX Venture: ATI
|
| Stock price: | C$1.59 at close May 7
|
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