By Sheri Kasprzak
New York, Dec. 21 - Canplats Resources Corp. said it arranged a private placement for C$1 million.
The offering includes 5 million units of one share and one half-share warrant at C$0.20 each. The whole warrants are exercisable at C$0.25 each for the first year and C$0.35 each for the second year.
The expiry of the warrants will be accelerated if the company's stock trades above C$0.35 in the first year or C$0.45 in the second year.
Proceeds will be used for exploration, working capital and property acquisition investigations.
Vancouver, B.C.-based Canplats is a gold exploration company.
| Issuer: | Canplats Resources Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1 million
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| Units: | 5 million
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| Price: | C$0.20
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.25 for the first year; C$0.35 for the second year
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| Pricing date: | Dec. 21
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| Stock price: | C$0.255 at close Dec. 21
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