Deal funds exploration, development of company's mineral properties
By Devika Patel
Knoxville, Tenn., April 4 - Copper Ridge Explorations Inc. said it increased a non-brokered private placement of units. The deal priced for C$875,000 on March 30 and is now slated to raise C$1.12 million.
The company will now sell 3.2 million units of one common share and one half-share warrant at C$0.35 per unit.
Each whole warrant will be exercisable at C$0.50 for one year. The strike price is a 47.06% premium to C$0.34, the March 29 closing share price.
Proceeds will be used for exploration and development of the company's mineral properties and general working capital purposes.
Copper Ridge is a copper, lead and zinc exploration company based in Vancouver, B.C.
| Issuer: | Copper Ridge Explorations Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.12 million
|
| Units: | 3.2 million
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | March 30
|
| Upsized: | April 4
|
| Stock symbol: | TSX Venture: KRX
|
| Stock price: | C$0.37 at close March 30
|
| Market capitalization: | C$4.66 million
|
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