Proceeds of non-brokered offering earmarked for exploration properties
By Devika Patel
Knoxville, Tenn., Jan. 30 - Salazar Resources Ltd. said it has arranged a C$3 million non-brokered private placement of units.
The company will sell 6 million units of one common share and a half-share warrant at C$0.50 per unit.
Each whole warrant will be exercisable at C$0.65 for two years. The strike price reflects a 38.3% premium to the Jan. 27 closing share price of C$0.47.
Proceeds will be used for the company's exploration properties and for general working capital.
Salazar is a resource exploration company based in Vancouver, B.C.
Issuer: | Salazar Resources Ltd.
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Issue: | Units of one common share and a half-share warrant
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Amount: | C$3 million
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Units: | 6 million
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Price: | C$0.50
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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$0.65
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Agent: | Non-brokered
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Pricing date: | Jan. 30
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Stock symbol: | TSX Venture: SRL
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Stock price: | C$0.47 at close Jan. 27
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Market capitalization: | C$21.18 million
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