By Devika Patel
Knoxville, Tenn., June 26 - Quest Uranium Corp. said it took in C$1.5 million in a private placement of units. The deal priced for C$1.36 million on June 17.
The company sold 6,818,180 units at C$0.22 per unit. Each unit consists of one common share and one half-share warrant. Each whole warrant will be exercisable at C$0.40 for one year.
Proceeds will be used for exploration and working capital purposes.
Montreal-based Quest is a subsidiary of Freewest Resources Canada Inc. The company was formed to take over Freewest's uranium assets and exploration activities.
| Issuer: | Quest Uranium Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 6,818,180
|
| Price: | C$0.22
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.40
|
| Pricing date: | June 17
|
| Settlement date: | June 26
|
| Stock symbol: | TSX Venture: QUC
|
| Stock price: | C$0.235 at close June 16
|
| Market capitalization: | C$9.16 million
|
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