By Devika Patel
Knoxville, Tenn., March 12 - Journey Resources Corp. said it is amending the terms of a C$2 million non-brokered private placement of units that priced Feb. 25.
The company planned to sell 6.25 million units at C$0.32 apiece but now plans to sell 6,666,667 units at $0.30 each. The units each consist of one common share and one half-share warrant.
Each whole warrant was to have been exercisable at C$0.47 for two years but now will be exercisable at C$0.45 for 18 months.
Proceeds will be used for general working capital.
Journey is a mining and exploration company based in Vancouver, B.C.
| Issuer: | Journey Resources Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 6,666,667
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.45
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 25
|
| Amended: | March 12
|
| Stock symbol: | TSX Venture: JNY
|
| Stock price: | C$0.295 at close Feb. 22
|
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