By Laura Lutz
Des Moines, May 14 - Pro-Spect-Or Resources Inc. arranged a private placement of flow-through units for C$2 million.
The company plans to sell 8 million units of one flow-through share and one non flow-through warrant at C$0.25 per unit. Each warrant will be exercisable at for two year, at C$0.30 in the first six months, C$0.40 in the next six months, C$0.50 in the third six months and C$0.60 for the last six months.
The units will be bought by MineralFields Group and several individual investors.
The placement is non-brokered.
Pro-Spect-Or is a uranium exploration and development company based in Montreal.
| Issuer: | Pro-Spect-Or Resources Inc.
|
| Issue: | Units of one flow-through share and one non flow-through warrant
|
| Amount: | C$2 million
|
| Units: | 8 million
|
| Price: | C$0.25
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30 in the first six months; C$0.40 in the second six months; C$0.50 in the third six months; C$0.60 in the last six months
|
| Agent: | Non-brokered
|
| Pricing date: | May 14
|
| Stock symbol: | TSX Venture: PSR
|
| Stock price: | C$0.205 at close May 11
|
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