By Laura Lutz
Des Moines, Oct. 18 - Newfoundland Goldbar Resources Inc. revised the terms of its previously announced C$1 million placement.
The placement now includes up to 16,666,666 units of one common share and one warrant at C$0.06 per unit. Each warrant is exercisable at C$0.10 for one year.
When the offering was announced on Sept. 12, it consisted of 20 million units at C$0.05 per unit.
The deal will be non-brokered.
Proceeds will be used to satisfy debt, to pursue business opportunities and for general working capital.
Newfoundland Goldbar is a mining company based in St. Johns, Newfoundland.
| Issuer: | Newfoundland Goldbar Resources Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1 million
|
| Units: | 16,666,666
|
| Price: | C$0.06
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 12
|
| Amended: | Oct. 18
|
| Stock symbol: | NEX Board: NGB-H
|
| Stock price: | C$0.05 at close Sept. 12
|
| Stock price: | C$0.08 at close Oct
|
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