By Devika Patel
Knoxville, Tenn., July 23 - Cloudbreak Resources Ltd. said it will conduct a C$1.3 million non-brokered private placement of units.
The company will sell 5 million units of one common share and one warrant at C$0.065 apiece for C$325,000. Each warrant will be exercisable at C$0.10 for five years.
It also will sell 15 million flow-through units of one flow-through common share and one warrant at C$0.065 apiece for C$975,000. Each two-year warrant will be exercisable at C$0.10.
Proceeds will be used for general working capital and exploration and development of the company's Canadian properties.
Based in Vancouver, B.C., Cloudbreak Resources is an exploration and mining company with primary exploration and development assets in Turkey, Romania and the United States.
| Issuer: | Cloudbreak Resources Ltd.
|
| Issue: | Units of one common share and one warrant, flow-through units of one flow-through common share and one warrant
|
| Amount: | C$1.3 million
|
| Price: | C$0.065
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | July 23
|
| Stock symbol: | TSX Venture: CDB
|
| Stock price: | C$0.09 at close July 23
|
| Market capitalization: | C$7.59 million
|
|
|
| Units
|
| Amount: | C$325,000
|
| Units: | 5 million
|
| Warrant expiration: | Five years
|
|
|
| Flow-though units
|
| Amount: | C$975,000
|
| Units: | 15 million
|
| Warrant expiration: | Two years
|
© 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.
