Non-brokered deal raises proceeds for general working capital
By Devika Patel
Knoxville, Tenn., Sept. 16 - Georox Resources Inc. said it arranged a C$1.32 million non-brokered private placement of units.
The company will sell 6 million units at C$0.22 apiece. Each unit will consist of one common share and one half-share warrant, with each whole two-year warrant exercisable at C$0.40.
The strike price reflects a 60% premium to the Sept. 15 closing share price of C$0.25.
Proceeds will be used for general working capital.
Georox is a natural resource company based in Kelowna, B.C.
| Issuer: | Georox Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.32 million
|
| Units: | 6 million
|
| Price: | C$0.22
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 16
|
| Stock symbol: | TSX Venture: GXR
|
| Stock price: | C$0.25 at close Sept. 15
|
| Market capitalization: | C$3.99 million
|
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