By Sheri Kasprzak
New York, Feb. 26 - Newfoundland Goldbar Resources Inc. priced a C$1 million private placement.
The offering includes up to 20 million units of one share and one warrant.
The warrants allow for the purchase of another share at C$0.10 each for one year.
The deal is not brokered.
Proceeds will be used for debt repayment and working capital.
Based in St. John's, Newfoundland, Newfoundland Goldbar is a gold exploration company.
| Issuer: | Newfoundland Goldbar Resources Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1 million
|
| Units: | 20 million
|
| Price: | C$0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.10
|
| Placement agent: | Non-brokered
|
| Pricing date: | Feb. 26
|
| Stock symbol: | TSX Venture: NGB
|
| Stock price: | C$0.07 at close Feb. 26
|
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