By Sheri Kasprzak
New York, Sept. 7 - Continental Precious Minerals Inc. said it has arranged a private placement for up to C$1.1 million.
The company plans to sell up to 2 million units at C$0.55 each.
The units include one share and one warrant. The warrants are exercisable at C$0.80 each for one year.
Canaccord Capital Corp. is the placement agent.
The proceeds will be used for drilling on the company's mineral properties in northern Sweden.
Based in Toronto, Continental is a mineral exploration company.
| Issuer: | Continental Precious Minerals Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1.1 million (maximum)
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| Units: | 2 million (maximum)
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| Price: | C$0.55
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| Warrants: | One warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.80
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| Placement agent: | Canaccord Capital Corp.
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| Pricing date: | Sept. 7
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| Stock price: | C$0.70 at close Sept. 7
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