By Sheri Kasprzak
Atlanta, Jan. 11 - Champion Bear Resources Ltd. closed a previously announced private placement for C$640,000 - falling short of its C$1.5 million goal.
The company sold 800,000 flow-through shares at C$0.80 each.
MineralFields Group bought 625,000 of the shares in the offering for a C$500,000 investment.
On Dec. 16, the company announced its plans to sell 1,875,000 flow-through shares, under the same terms, for C$1.5 million.
Champion Bear, based in Calgary, Alta., is a mineral exploration company. It plans to use the proceeds from the deal for its exploration programs on its Plomp Farm gold property and its Iron Mask property in Sudbury, Ont.
Issuer: | Champion Bear Resources Ltd.
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Issue: | Stock
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Amount: | C$640,000
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Shares: | 800,000
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Price: | C$0.80
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Warrants: | No
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Announcement date: | Dec. 16
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Stock price: | C$0.56 at close Dec. 16
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Stock price: | C$0.54 at close Jan. 10
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