By Devika Patel
Knoxville, Tenn., April 2 - Castle Resources Inc. said it has settled a C$1.49 million private placement of units with D&D Security Co.
The company sold 285,715 flow-through units of one flow-through common share and one half-share warrant at C$0.35 apiece for C$100,000.25. Each whole warrant will be exercisable at C$0.60 for 18 months.
Castle Resources also sold 4.63 million units of one common share and one half-share warrant at C$0.30 per unit for C$1.39 million. Each whole warrant will be exercisable at C$0.45 for 18 months.
Proceeds from both deals will be used to finance Castle's proposed acquisition of a project located in Cobalt, Ont., and its exploration program in Zacatecas, Mexico.
Based in Montreal, Castle Resources is a junior mineral exploration company.
| Issuer: | Castle Resources Inc.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, units of one common share and one half-share warrant
|
| Amount: | C$1,489,000.25
|
| Agent: | D&D Security Co.
|
| Settlement date: | April 2
|
| Stock symbol: | TSX Venture: CRI
|
| Stock price: | C$0.25 at close April 2
|
|
|
| Flow-through units
|
| Amount: | C$100,000.25
|
| Units: | 285,715
|
| Price: | C$0.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.60
|
|
|
| Units
|
| Amount: | C$1,389,000
|
| Units: | 4.63 million
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.45
|
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