By Devika Patel
Knoxville, Tenn., Aug. 4 - Cue Resources Ltd. said it plans a C$1.05 million non-brokered private placement of units.
Cue will sell 15 million units of one common share and one half-share warrant at C$0.07 per unit.
Each warrant will be exercisable at C$0.12 for two years. The strike price represents a 60% premium over the Aug. 3 closing stock price of C$0.075.
Proceeds will be used to continue work at the Yuty Uranium Project in Paraguay and for general working capital.
Vancouver, B.C.-based Cue Resources is a resource exploration company.
| Issuer: | Cue Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.05 million
|
| Units: | 15 million
|
| Price: | C$0.07
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.12
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 4
|
| Stock symbol: | TSX Venture: CUE
|
| Stock price: | C$0.075 at close Aug. 3
|
| Market capitalization: | C$4.7 million
|
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