By Sheri Kasprzak
New York, April 26 - Glass Earth Ltd. said it has arranged a C$1.5 million private placement.
The deal includes up to 10 million units of one share and one half-share warrant. The whole warrants are exercisable at C$0.25 each for two years.
Proceeds will be used for field programs from July through November. The rest will be used for general corporate purposes.
Located in Toronto, Ont., Glass Earth is a gold exploration company.
| Issuer: | Glass Earth Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.5 million (maximum)
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| Units: | 10 million (maximum)
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| Price: | C$0.15
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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
|
| Pricing date: | April 26
|
| Stock symbol: | TSX Venture: GEL
|
| Stock price: | C$0.20 at close April 26
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